Commerzbank Aktiengesellschaft FI Makes New $232,000 Investment in Iron Mountain Incorporated (NYSE:IRM)

Commerzbank Aktiengesellschaft FI purchased a new position in Iron Mountain Incorporated (NYSE:IRM) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 1,951 shares of the financial services provider’s stock, valued at approximately $232,000.

Several other hedge funds have also recently added to or reduced their stakes in IRM. Wealthcare Advisory Partners LLC grew its position in Iron Mountain by 177.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 12,789 shares of the financial services provider’s stock worth $1,026,000 after buying an additional 8,184 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Iron Mountain by 13.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 63,269 shares of the financial services provider’s stock worth $5,075,000 after buying an additional 7,282 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new position in Iron Mountain during the 1st quarter worth approximately $306,000. Claro Advisors LLC purchased a new position in Iron Mountain during the 1st quarter worth approximately $1,445,000. Finally, Oak Thistle LLC purchased a new position in Iron Mountain during the 1st quarter worth approximately $244,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

IRM has been the topic of several research analyst reports. The Goldman Sachs Group lifted their price objective 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. Stifel Nicolaus lifted their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Barclays lifted 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. Finally, 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. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

Iron Mountain Trading Up 0.3 %

Shares of NYSE:IRM opened at $125.97 on Friday. The firm has a fifty day moving average of $116.73 and a two-hundred day moving average of $97.98. The firm has a market capitalization of $36.93 billion, a P/E ratio of 190.86, a price-to-earnings-growth 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 $127.05. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data 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 net margin of 3.94% and a return on equity of 595.44%. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the firm posted $0.94 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities analysts expect that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is presently 433.33%.

Insider Activity at Iron Mountain

In related 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 completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $34,697,484. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Iron Mountain 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 completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,503 shares of company stock valued at $3,511,505. Insiders own 2.10% of the company’s stock.

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.