Bay Colony Advisory Group Inc d b a Bay Colony Advisors Has $1.12 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lowered its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.2% during the third quarter, HoldingsChannel reports. The firm owned 9,414 shares of the financial services provider’s stock after selling 111 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Iron Mountain were worth $1,119,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Assenagon Asset Management S.A. raised its position in shares of Iron Mountain by 0.8% during the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after purchasing an additional 92 shares during the period. Schmidt P J Investment Management Inc. grew its holdings in shares of Iron Mountain by 3.6% during the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider’s stock worth $340,000 after buying an additional 100 shares in the last quarter. Raleigh Capital Management Inc. grew its holdings in shares of Iron Mountain by 2.6% during the third quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock worth $511,000 after buying an additional 107 shares in the last quarter. Csenge Advisory Group grew its holdings in shares of Iron Mountain by 1.2% during the second quarter. Csenge Advisory Group now owns 9,515 shares of the financial services provider’s stock worth $853,000 after buying an additional 114 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Iron Mountain by 2.8% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,241 shares of the financial services provider’s stock worth $380,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Up 1.2 %

Shares of Iron Mountain stock traded up $1.51 on Monday, reaching $129.21. 77,143 shares of the company were exchanged, compared to its average volume of 1,590,018. Iron Mountain Incorporated has a one year low of $57.36 and a one year high of $130.24. The company has a market capitalization of $37.90 billion, a price-to-earnings ratio of 163.72, a PEG ratio of 7.42 and a beta of 1.00. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. The company has a 50-day moving average of $117.12 and a 200 day moving average of $98.61.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.50 billion. During the same quarter last year, the company posted $0.94 EPS. The firm’s revenue was up 13.0% on a year-over-year basis. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Monday, September 16th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is 366.67%.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction 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 sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $34,697,484. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares of the company’s stock, valued at $993,127.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the company’s 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 transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $34,697,484. This 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 have sold 30,503 shares of company stock worth $3,511,505. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

IRM has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price objective on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Wells Fargo & Company increased their price objective on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Stifel Nicolaus increased their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Barclays boosted their price target on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group upped their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

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.