Iron Mountain Incorporated $IRM Stock Purchased by Machina Capital S.A.S.

Machina Capital S.A.S. raised its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 89.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,792 shares of the financial services provider’s stock after buying an additional 6,985 shares during the period. Machina Capital S.A.S.’s holdings in Iron Mountain were worth $1,641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Brown Financial Advisors grew its position in Iron Mountain by 3.6% during the 2nd quarter. Brown Financial Advisors now owns 2,580 shares of the financial services provider’s stock worth $326,000 after acquiring an additional 90 shares during the last quarter. Crown Wealth Group LLC raised its position in Iron Mountain by 3.0% in the 3rd quarter. Crown Wealth Group LLC now owns 3,086 shares of the financial services provider’s stock valued at $342,000 after purchasing an additional 91 shares during the last quarter. Compass Financial Management LLC raised its position in Iron Mountain by 18.6% in the 3rd quarter. Compass Financial Management LLC now owns 625 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 98 shares during the last quarter. Yousif Capital Management LLC boosted its stake in Iron Mountain by 0.3% in the third quarter. Yousif Capital Management LLC now owns 38,379 shares of the financial services provider’s stock worth $4,258,000 after purchasing an additional 102 shares in the last quarter. Finally, Eastern Bank boosted its stake in Iron Mountain by 14.4% in the third quarter. Eastern Bank now owns 841 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 106 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 1.9%

NYSE:IRM opened at $114.55 on Friday. Iron Mountain Incorporated has a 12-month low of $77.77 and a 12-month high of $134.68. The stock’s fifty day simple moving average is $113.54 and its 200-day simple moving average is $115.75. The firm has a market capitalization of $34.12 billion, a P/E ratio of 74.87 and a beta of 1.18.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, November 5th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Iron Mountain had a negative return on equity of 79.98% and a net margin of 5.88%. The company’s revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.32 earnings per share. As a group, equities research analysts expect that Iron Mountain Incorporated will post 5.42 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 6th. Investors of record on Tuesday, December 15th will be paid a dividend of $0.9930 per share. This represents a $3.97 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, December 15th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.8640. Iron Mountain’s payout ratio is 226.14%.

Insider Buying and Selling

In related news, EVP Greg McIntosh sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $116.96, for a total transaction of $584,800.00. Following the completion of the transaction, the executive vice president owned 65,634 shares in the company, valued at approximately $7,676,552.64. The trade was a 7.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Meaney sold 38,474 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $114.08, for a total transaction of $4,389,113.92. Following the completion of the sale, the chief executive officer directly owned 38,474 shares of the company’s stock, valued at $4,389,113.92. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 136,422 shares of company stock valued at $15,116,038 in the last 90 days. 1.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. BNP Paribas Exane lifted their price target on Iron Mountain from $138.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Rothschild & Co Redburn initiated coverage on shares of Iron Mountain in a report on Monday, September 21st. They set a “buy” rating and a $132.00 price objective on the stock. Barclays raised their price objective on shares of Iron Mountain from $143.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, September 8th. The Goldman Sachs Group boosted their target price on shares of Iron Mountain from $153.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Finally, Wall Street Zen lowered shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $141.33.

Iron Mountain Company Profile

Iron Mountain Incorporated is an information management and storage company that helps organizations protect, manage and access physical and digital assets. Its services include records storage and management, secure document shredding, digitization and other information-management solutions. The company also operates data centers and provides services for businesses moving, storing and managing data. Its offerings extend to specialized storage and care for items such as artwork and other valuable collections.