18,387 Shares in Iron Mountain Incorporated (NYSE:IRM) Purchased by Highline Wealth Partners LLC

Highline Wealth Partners LLC purchased a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 18,387 shares of the financial services provider's stock, valued at approximately $2,185,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of IRM. Creekmur Asset Management LLC lifted its holdings in Iron Mountain by 7.7% in the third quarter. Creekmur Asset Management LLC now owns 17,485 shares of the financial services provider's stock valued at $2,078,000 after acquiring an additional 1,255 shares during the period. Mutual Advisors LLC lifted its holdings in shares of Iron Mountain by 1.5% in the 3rd quarter. Mutual Advisors LLC now owns 123,823 shares of the financial services provider's stock valued at $15,598,000 after acquiring an additional 1,829 shares during the last quarter. Fidelis Capital Partners LLC increased its position in Iron Mountain by 180.7% during the third quarter. Fidelis Capital Partners LLC now owns 5,935 shares of the financial services provider's stock valued at $745,000 after acquiring an additional 3,821 shares during the last quarter. Tyche Wealth Partners LLC bought a new stake in shares of Iron Mountain during the 3rd quarter worth approximately $220,000. Finally, Diversify Advisory Services LLC grew its stake in Iron Mountain by 15.9% in the 3rd quarter. Diversify Advisory Services LLC now owns 7,942 shares of the financial services provider's stock worth $984,000 after acquiring an additional 1,091 shares in the last quarter. Institutional investors own 80.13% of the company's stock.

Iron Mountain Price Performance

NYSE IRM traded up $0.41 during trading hours on Wednesday, reaching $128.01. The company's stock had a trading volume of 517,639 shares, compared to its average volume of 1,588,438. The stock has a market cap of $37.55 billion, a PE ratio of 163.59, a PEG ratio of 7.42 and a beta of 1.00. The company's 50-day moving average is $117.85 and its two-hundred day moving average is $99.34. Iron Mountain Incorporated has a fifty-two week low of $57.36 and a fifty-two week high of $130.24. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its 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 return on equity of 595.44% and a net margin of 3.94%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The company's revenue for the quarter was up 13.0% on a year-over-year basis. Analysts forecast that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were issued a dividend of $0.715 per share. This is an increase from Iron Mountain's previous quarterly dividend of $0.65. The ex-dividend date was Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.23%. Iron Mountain's payout ratio is currently 366.67%.

Insider Activity at Iron Mountain

In related news, EVP Edward Baker-Greene sold 2,262 shares of the company's stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the sale, the executive vice president now owns 9,049 shares of the company's stock, valued at $993,127.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, COO John Tomovcsik sold 2,866 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 15,000 shares in the company, valued at $1,575,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of the firm's stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $109.75, for a total value of $248,254.50. Following the completion of the sale, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,503 shares of company stock valued at $3,511,505. 2.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

IRM has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. The Goldman Sachs Group increased their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised 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. Stifel Nicolaus upped their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, September 23rd. Finally, Barclays raised their price objective on shares of Iron Mountain from $91.00 to $133.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.