Iron Mountain Incorporated (NYSE:IRM) is Sippican Capital Advisors’ 10th Largest Position

Sippican Capital Advisors reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 7.0% in the third quarter, Holdings Channel.com reports. The fund owned 24,817 shares of the financial services provider’s stock after selling 1,870 shares during the period. Iron Mountain makes up approximately 2.1% of Sippican Capital Advisors’ portfolio, making the stock its 10th biggest position. Sippican Capital Advisors’ holdings in Iron Mountain were worth $2,949,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. West Branch Capital LLC purchased a new position in shares of Iron Mountain in the third quarter worth about $33,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Iron Mountain during the 2nd quarter valued at approximately $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Iron Mountain in the 2nd quarter worth approximately $36,000. Headlands Technologies LLC bought a new position in shares of Iron Mountain in the 1st quarter worth approximately $38,000. Finally, Family Firm Inc. bought a new position in shares of Iron Mountain in the 2nd quarter worth approximately $45,000. 80.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Stifel Nicolaus upped their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. increased their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. The Goldman Sachs Group raised their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company raised their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Barclays lifted their price target on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $115.50.

Iron Mountain Trading Down 0.6 %

Shares of Iron Mountain stock traded down $0.74 on Thursday, hitting $126.90. 48,313 shares of the company traded hands, compared to its average volume of 1,583,929. The stock’s 50 day moving average price is $118.16 and its 200-day moving average price is $99.54. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 52 week low of $57.36 and a 52 week high of $130.24. The company has a market cap of $37.22 billion, a PE ratio of 163.65, a PEG ratio of 7.42 and a beta of 1.00.

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

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, October 7th. The shares were 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 directly owns 295,650 shares of the company’s stock, valued at $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John Tomovcsik sold 1,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $110.00, for a total transaction of $110,000.00. Following the sale, the chief operating officer now directly owns 14,000 shares in the company, valued at $1,540,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,637 shares of company stock valued at $3,210,575. 2.10% of the stock is currently owned by insiders.

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.