Friedenthal Financial Invests $824,000 in Iron Mountain Incorporated (NYSE:IRM)

Friedenthal Financial purchased a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,931 shares of the financial services provider's stock, valued at approximately $824,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Board of Administration of Florida Retirement System lifted its stake in shares of Iron Mountain by 2.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider's stock worth $25,787,000 after purchasing an additional 7,486 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Iron Mountain by 22.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider's stock worth $47,547,000 after purchasing an additional 110,551 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Iron Mountain by 19.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider's stock valued at $6,794,000 after acquiring an additional 12,540 shares in the last quarter. Centersquare Investment Management LLC grew its stake in Iron Mountain by 7,892.6% in the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider's stock valued at $119,263,000 after purchasing an additional 1,519,237 shares during the last quarter. Finally, Brookstone Capital Management grew its stake in Iron Mountain by 13.2% in the second quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider's stock valued at $9,766,000 after purchasing an additional 11,454 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Performance

Shares of NYSE IRM traded up $1.30 during mid-day trading on Friday, hitting $125.76. The company had a trading volume of 1,025,238 shares, compared to its average volume of 1,600,545. The stock has a market cap of $36.86 billion, a price-to-earnings ratio of 190.55, a PEG ratio of 7.22 and a beta of 1.00. Iron Mountain Incorporated has a 12 month low of $57.36 and a 12 month 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's 50 day simple moving average is $115.43 and its two-hundred day simple moving average is $96.83.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the business posted $0.94 EPS. The company's revenue for the quarter was up 13.0% on a year-over-year basis. As a group, equities research analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

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

Insider Buying and Selling

In other news, COO John Tomovcsik sold 2,866 shares of the firm's stock in a transaction on Thursday, August 1st. The stock was 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 owns 15,000 shares of the company's stock, valued at $1,575,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, COO John Tomovcsik sold 2,866 shares of Iron Mountain stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $105.00, for a total transaction of $300,930.00. Following the transaction, the chief operating officer now owns 15,000 shares in the company, valued at approximately $1,575,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the business's stock in a transaction dated 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 owns 295,650 shares in the company, valued at $34,697,484. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,503 shares of company stock worth $3,511,505 in the last three months. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

IRM has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Iron Mountain from $82.00 to $121.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Wells Fargo & Company increased 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. Stifel Nicolaus increased their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. The Goldman Sachs Group increased their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Finally, Barclays increased their price target on Iron Mountain from $91.00 to $133.00 and gave the company 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 given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $115.50.

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.