Claro Advisors LLC Acquires 7,878 Shares of Iron Mountain Incorporated (NYSE:IRM)

Claro Advisors LLC grew its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 47.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,492 shares of the financial services provider's stock after buying an additional 7,878 shares during the period. Claro Advisors LLC's holdings in Iron Mountain were worth $2,910,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Iron Mountain during the 2nd quarter valued at $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iron Mountain during the 2nd quarter valued at $36,000. Headlands Technologies LLC bought a new stake in shares of Iron Mountain during the 1st quarter valued at $38,000. Family Firm Inc. bought a new stake in shares of Iron Mountain during the 2nd quarter valued at $45,000. Finally, Optimum Investment Advisors bought a new stake in shares of Iron Mountain during the 1st quarter valued at $60,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Trading Up 1.0 %

Shares of Iron Mountain stock traded up $1.28 during trading on Friday, reaching $125.74. The company's stock had a trading volume of 1,025,132 shares, compared to its average volume of 1,600,545. The firm's 50-day moving average is $115.43 and its two-hundred day moving average is $96.71. Iron Mountain Incorporated has a 52-week low of $57.36 and a 52-week high of $125.81. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The company has a market cap of $36.86 billion, a price-to-earnings ratio of 190.52, a PEG ratio of 7.22 and a beta of 1.00.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results 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). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the company earned $0.94 earnings per share. The company's quarterly revenue was up 13.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were issued a dividend of $0.715 per share. This is a positive change from Iron Mountain's previous quarterly dividend of $0.65. This represents a $2.86 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Monday, September 16th. Iron Mountain's dividend payout ratio is currently 433.33%.

Analyst Upgrades and Downgrades

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

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company's 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 completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $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 can be accessed 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 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 completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of the company's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the transaction, the director now owns 14,829 shares of the company's stock, valued at $1,725,799.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,503 shares of company stock worth $3,511,505 in the last three months. 2.10% of the stock is 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.