Essex Financial Services Inc. Purchases 632 Shares of Iron Mountain Incorporated (NYSE:IRM)

Essex Financial Services Inc. lifted its position in Iron Mountain Incorporated (NYSE:IRM) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,487 shares of the financial services provider’s stock after acquiring an additional 632 shares during the quarter. Essex Financial Services Inc.’s holdings in Iron Mountain were worth $1,154,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its position in Iron Mountain by 0.7% during the third quarter. Deutsche Bank AG now owns 4,571,545 shares of the financial services provider’s stock valued at $271,778,000 after buying an additional 29,683 shares during the period. Daiwa Securities Group Inc. boosted its position in Iron Mountain by 60.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after purchasing an additional 1,546,592 shares during the period. Northern Trust Corp boosted its position in Iron Mountain by 1.2% during the third quarter. Northern Trust Corp now owns 3,913,828 shares of the financial services provider’s stock worth $232,677,000 after purchasing an additional 47,902 shares during the period. Invesco Ltd. lifted its holdings in shares of Iron Mountain by 49.7% in the third quarter. Invesco Ltd. now owns 3,243,435 shares of the financial services provider’s stock worth $192,822,000 after buying an additional 1,077,339 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Iron Mountain by 315.2% in the third quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock worth $179,079,000 after buying an additional 2,286,711 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 0.7 %

Shares of IRM opened at $78.07 on Thursday. The firm’s 50 day simple moving average is $78.03 and its 200 day simple moving average is $69.72. The company has a market capitalization of $22.88 billion, a P/E ratio of 123.92, a P/E/G ratio of 4.64 and a beta of 0.96. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78. Iron Mountain Incorporated has a 1-year low of $52.81 and a 1-year high of $82.19.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 earnings per share. Sell-side analysts forecast that Iron Mountain Incorporated will post 4.18 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.33%. Iron Mountain’s payout ratio is currently 412.70%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $1,083,310.00. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $20,175,156. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $1,083,310.00. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $20,175,156. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Kidd sold 4,458 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $80.21, for a total transaction of $357,576.18. Following the completion of the transaction, the executive vice president now owns 62,938 shares in the company, valued at approximately $5,048,256.98. The disclosure for this sale can be found here. Insiders have sold 162,124 shares of company stock worth $12,563,361 over the last ninety days. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IRM. Barclays increased their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Wells Fargo & Company increased their price target on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. TheStreet downgraded shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Finally, Stifel Nicolaus raised their target price on shares of Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.80.

About Iron Mountain

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.