Atomi Financial Group Inc. Purchases 396 Shares of Iron Mountain Incorporated (NYSE:IRM)

by · The Markets Daily

Atomi Financial Group Inc. increased its stake in Iron Mountain Incorporated (NYSE:IRM – Free Report) by 10.2% during the 3rd quarter, Holdings Channel reports. The firm owned 4,276 shares of the financial services provider’s stock after purchasing an additional 396 shares during the quarter. Atomi Financial Group Inc.’s holdings in Iron Mountain were worth $508,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Clear Street Markets LLC increased its position in shares of Iron Mountain by 333.3% in the fourth quarter. Clear Street Markets LLC now owns 1,300 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 1,000 shares during the period. Grayhawk Investment Strategies Inc. purchased a new stake in Iron Mountain in the 4th quarter worth approximately $749,000. V Square Quantitative Management LLC increased its stake in shares of Iron Mountain by 24.3% during the fourth quarter. V Square Quantitative Management LLC now owns 6,617 shares of the financial services provider’s stock valued at $463,000 after buying an additional 1,295 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Iron Mountain by 6.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock valued at $65,787,000 after acquiring an additional 59,381 shares in the last quarter. Finally, Transcendent Capital Group LLC bought a new stake in Iron Mountain in the fourth quarter valued at $36,000. 80.13% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred 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 owns 295,650 shares in the company, valued at $34,697,484. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Iron Mountain news, COO John Tomovcsik sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $100.00, for a total transaction of $250,000.00. Following the completion of the transaction, the chief operating officer now owns 17,866 shares in the company, valued at $1,786,600. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,003 shares of company stock worth $3,761,505 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IRM. JPMorgan Chase & Co. lifted their target price on shares of 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 upped their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays lifted their price target on shares of Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday. Stifel Nicolaus raised their target price 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, Wells Fargo & Company upped their price target on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain currently has an average rating of “Moderate Buy” and an average target price of $113.00.

Read Our Latest Stock Analysis on Iron Mountain

Iron Mountain Stock Down 1.2 %

Iron Mountain stock opened at $119.02 on Friday. The stock has a market cap of $34.89 billion, a PE ratio of 180.33, a price-to-earnings-growth ratio of 7.09 and a beta of 1.00. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a fifty day moving average of $113.47 and a 200 day moving average of $94.89. Iron Mountain Incorporated has a one year low of $57.36 and a one year high of $120.70.

Iron Mountain (NYSE:IRM – Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 EPS. As a group, sell-side analysts predict that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.40%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 433.33%.

Iron Mountain Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding IRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iron Mountain Incorporated (NYSE:IRM – Free Report).