Advisory Alpha LLC Invests $262,000 in Iron Mountain Incorporated $IRM

Advisory Alpha LLC acquired a new position in Iron Mountain Incorporated (NYSE:IRM) in the 2nd quarter, Holdings Channel reports. The firm acquired 2,550 shares of the financial services provider’s stock, valued at approximately $262,000.

Several other large investors also recently made changes to their positions in the business. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Iron Mountain by 8.7% in the second quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 88,735 shares of the financial services provider’s stock worth $9,102,000 after acquiring an additional 7,114 shares in the last quarter. Wealthfront Advisers LLC increased its position in shares of Iron Mountain by 0.3% in the second quarter. Wealthfront Advisers LLC now owns 75,981 shares of the financial services provider’s stock worth $7,793,000 after acquiring an additional 200 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Iron Mountain by 9.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 14,016 shares of the financial services provider’s stock worth $1,438,000 after acquiring an additional 1,173 shares in the last quarter. Strait & Sound Wealth Management LLC increased its position in shares of Iron Mountain by 4.2% in the second quarter. Strait & Sound Wealth Management LLC now owns 9,597 shares of the financial services provider’s stock worth $984,000 after acquiring an additional 390 shares in the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs increased its position in shares of Iron Mountain by 3.2% in the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 16,338 shares of the financial services provider’s stock worth $1,676,000 after acquiring an additional 502 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity

In other news, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total value of $546,300.00. Following the completion of the sale, the executive vice president owned 79,081 shares of the company’s stock, valued at approximately $7,200,325.05. The trade was a 7.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 144,250 shares of company stock valued at $13,811,388 in the last three months. Insiders own 1.90% of the company’s stock.

Iron Mountain Stock Performance

IRM opened at $101.25 on Friday. The company has a 50-day moving average of $99.94 and a 200-day moving average of $97.53. The company has a market capitalization of $29.90 billion, a P/E ratio of 723.26 and a beta of 1.06. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $127.29.

Iron Mountain (NYSE:IRM) last released its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.08 EPS. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were given a $0.785 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.14 annualized dividend and a dividend yield of 3.1%. Iron Mountain’s payout ratio is presently 2,242.86%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Jefferies Financial Group assumed coverage on shares of Iron Mountain in a report on Monday, September 22nd. They set a “buy” rating and a $120.00 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Barclays raised their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $116.83.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.