CoreCap Advisors LLC Makes New $1.46 Million Investment in Iron Mountain Incorporated (NYSE:IRM)

CoreCap Advisors LLC acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM – Get Rating) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,346 shares of the financial services provider’s stock, valued at approximately $1,463,000.

Several other hedge funds have also recently bought and sold shares of IRM. Acadian Asset Management LLC grew its holdings in shares of Iron Mountain by 15.1% during the first quarter. Acadian Asset Management LLC now owns 2,503 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 328 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Iron Mountain by 71.3% during the first quarter. Panagora Asset Management Inc. now owns 18,549 shares of the financial services provider’s stock worth $1,028,000 after purchasing an additional 7,719 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Iron Mountain by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,743 shares of the financial services provider’s stock worth $2,147,000 after purchasing an additional 2,399 shares during the last quarter. APG Asset Management N.V. grew its holdings in shares of Iron Mountain by 13.0% during the first quarter. APG Asset Management N.V. now owns 18,205 shares of the financial services provider’s stock worth $907,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Raymond James Trust N.A. grew its holdings in shares of Iron Mountain by 52.8% during the first quarter. Raymond James Trust N.A. now owns 7,552 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 2,608 shares during the last quarter. 77.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 62,904 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $52.78, for a total transaction of $3,320,073.12. Following the sale, the chief executive officer now owns 376,320 shares of the company’s stock, valued at $19,862,169.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO William L. Meaney sold 62,904 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $52.78, for a total transaction of $3,320,073.12. Following the sale, the chief executive officer now owns 376,320 shares of the company’s stock, valued at $19,862,169.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Walter C. Rakowich sold 1,219 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $55.53, for a total value of $67,691.07. Following the sale, the director now directly owns 33,735 shares in the company, valued at approximately $1,873,304.55. The disclosure for this sale can be found here. Insiders have sold a total of 99,771 shares of company stock valued at $5,281,872 over the last 90 days. 2.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IRM shares. Barclays raised their price target on Iron Mountain from $56.00 to $64.00 in a report on Friday, May 5th. StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 price target on shares of Iron Mountain in a report on Monday, March 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $62.00.

Iron Mountain Trading Down 0.6 %

NYSE:IRM opened at $55.04 on Tuesday. Iron Mountain Incorporated has a 1-year low of $43.33 and a 1-year high of $57.21. The business’s 50-day moving average price is $53.38 and its two-hundred day moving average price is $52.86. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 19.91. The firm has a market capitalization of $16.05 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 3.67 and a beta of 0.91.

Iron Mountain (NYSE:IRM – Get Rating) last released its earnings results on Thursday, February 23rd. The financial services provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.46). Iron Mountain had a net margin of 11.20% and a return on equity of 88.48%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company posted $0.74 EPS. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts expect that Iron Mountain Incorporated will post 3.77 earnings per share for the current year.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th will be given a dividend of $0.6185 per share. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date is Wednesday, June 14th. Iron Mountain’s dividend payout ratio is currently 124.75%.

About Iron Mountain

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Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.