Stiles Financial Services Inc Acquires Shares of 2,127 Iron Mountain Incorporated $IRM

Stiles Financial Services Inc acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) during the second quarter, HoldingsChannel reports. The fund acquired 2,127 shares of the financial services provider’s stock, valued at approximately $218,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IRM. Nuveen LLC acquired a new position in Iron Mountain in the 1st quarter valued at $192,231,000. Contour Asset Management LLC acquired a new stake in shares of Iron Mountain during the 1st quarter worth $122,801,000. Goldman Sachs Group Inc. grew its holdings in shares of Iron Mountain by 86.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock worth $169,922,000 after purchasing an additional 913,715 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Iron Mountain by 117.7% during the 1st quarter. Principal Financial Group Inc. now owns 904,184 shares of the financial services provider’s stock worth $77,796,000 after purchasing an additional 488,816 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Iron Mountain by 14.7% during the 1st quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider’s stock worth $245,124,000 after purchasing an additional 366,134 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Down 2.8%

Shares of IRM stock opened at $101.98 on Friday. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The company has a market cap of $30.12 billion, a P/E ratio of 728.48 and a beta of 1.06. The business has a fifty day simple moving average of $96.49 and a 200 day simple moving average of $95.38.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the company earned $1.08 EPS. Iron Mountain’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were given a $0.785 dividend. The ex-dividend date was Monday, September 15th. This represents a $3.14 annualized dividend and a yield of 3.1%. Iron Mountain’s dividend payout ratio (DPR) is currently 2,242.86%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Iron Mountain in a report on Monday, September 22nd. They set a “buy” rating and a $120.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Barclays increased their target price on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $116.83.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $94.55, for a total value of $6,535,768.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total value of $7,074,252.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 213,375 shares of company stock worth $20,347,156. 1.90% of the stock is currently owned by insiders.

Iron Mountain 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.