CoreCap Advisors LLC Purchases New Stake in Iron Mountain Incorporated (NYSE:IRM)

CoreCap Advisors LLC bought a new stake in Iron Mountain Incorporated (NYSE:IRM – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,346 shares of the financial services provider’s stock, valued at approximately $1,463,000.

Several other hedge funds have also recently added to or reduced their stakes in IRM. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in Iron Mountain by 440.1% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 767 shares of the financial services provider’s stock valued at $42,000 after buying an additional 625 shares during the period. Accurate Wealth Management LLC acquired a new position in Iron Mountain in the fourth quarter valued at about $48,000. CENTRAL TRUST Co lifted its stake in Iron Mountain by 45.2% in the third quarter. CENTRAL TRUST Co now owns 1,605 shares of the financial services provider’s stock valued at $71,000 after buying an additional 500 shares during the period. Spire Wealth Management lifted its stake in Iron Mountain by 104.1% in the fourth quarter. Spire Wealth Management now owns 1,531 shares of the financial services provider’s stock valued at $76,000 after buying an additional 781 shares during the period. Finally, Baldwin Brothers LLC MA raised its position in shares of Iron Mountain by 67.3% during the fourth quarter. Baldwin Brothers LLC MA now owns 2,008 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 808 shares during the period. Institutional investors and hedge funds own 77.12% of the company’s stock.

Iron Mountain Stock Down 0.6 %

Shares of Iron Mountain stock opened at $55.04 on Tuesday. The business’s 50 day simple moving average is $53.38 and its 200 day simple moving average is $52.86. Iron Mountain Incorporated has a 52-week low of $43.33 and a 52-week high of $57.21. The firm has a market cap of $16.05 billion, a PE ratio of 27.80, a P/E/G ratio of 3.67 and a beta of 0.91. The company has a debt-to-equity ratio of 19.91, a quick ratio of 0.80 and a current ratio of 0.80.

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

Iron Mountain Dividend Announcement

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

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, Director Walter C. Rakowich sold 1,219 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $55.53, for a total value of $67,691.07. Following the completion of the transaction, the director now directly owns 33,735 shares in the company, valued at $1,873,304.55. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $51.77, for a total transaction of $58,241.25. Following the completion of the transaction, the executive vice president now directly owns 59,419 shares in the company, valued at approximately $3,076,121.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Walter C. Rakowich sold 1,219 shares of Iron Mountain stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $55.53, for a total value of $67,691.07. Following the transaction, the director now owns 33,735 shares of the company’s stock, valued at $1,873,304.55. The disclosure for this sale can be found here. Insiders sold a total of 99,771 shares of company stock worth $5,281,872 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

Iron Mountain Profile

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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.