West Branch Capital LLC Takes $33,000 Position in Iron Mountain Incorporated (NYSE:IRM)

West Branch Capital LLC acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 275 shares of the financial services provider’s stock, valued at approximately $33,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IRM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Iron Mountain during the 2nd quarter worth $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Iron Mountain during the second quarter worth about $36,000. Headlands Technologies LLC acquired a new position in Iron Mountain in the 1st quarter valued at about $38,000. Family Firm Inc. purchased a new stake in shares of Iron Mountain in the 2nd quarter valued at approximately $45,000. Finally, Global X Japan Co. Ltd. acquired a new stake in shares of Iron Mountain during the 2nd quarter worth approximately $63,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at $34,697,484. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John Tomovcsik sold 2,866 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $105.00, for a total value of $300,930.00. Following the completion of the sale, the chief operating officer now directly owns 15,000 shares in the company, valued at $1,575,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,503 shares of company stock worth $3,511,505 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 1.0 %

Shares of IRM stock traded up $1.30 on Friday, hitting $125.76. The stock had a trading volume of 1,025,238 shares, compared to its average volume of 1,600,545. The company’s 50 day moving average price is $115.43 and its 200-day moving average price is $96.83. Iron Mountain Incorporated has a 1 year low of $57.36 and a 1 year high of $125.81. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $36.86 billion, a P/E ratio of 190.55, a P/E/G ratio of 7.22 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the company earned $0.94 earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is currently 433.33%.

Analyst Upgrades and Downgrades

IRM has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus upped their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Wells Fargo & Company increased their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays boosted their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.50.

About Iron Mountain

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.