M Holdings Securities Inc. Buys New Shares in Iron Mountain Incorporated $IRM

M Holdings Securities Inc. purchased a new stake in Iron Mountain Incorporated (NYSE:IRM) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 8,735 shares of the financial services provider’s stock, valued at approximately $1,006,000.

Several other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC lifted its position in Iron Mountain by 1.7% during the third quarter. Brighton Jones LLC now owns 11,508 shares of the financial services provider’s stock worth $1,277,000 after buying an additional 189 shares during the period. Ethic Inc. grew its holdings in Iron Mountain by 2.3% in the 3rd quarter. Ethic Inc. now owns 50,300 shares of the financial services provider’s stock valued at $5,581,000 after buying an additional 1,120 shares during the period. Pictet Asset Management Holding SA grew its holdings in Iron Mountain by 32.2% in the 3rd quarter. Pictet Asset Management Holding SA now owns 1,080,998 shares of the financial services provider’s stock valued at $119,951,000 after buying an additional 263,376 shares during the period. Alps Advisors Inc. grew its holdings in Iron Mountain by 4.9% in the 3rd quarter. Alps Advisors Inc. now owns 18,273 shares of the financial services provider’s stock valued at $2,027,000 after buying an additional 846 shares during the period. Finally, Ashton Thomas Private Wealth LLC increased its stake in shares of Iron Mountain by 3.8% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,196 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 118 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IRM. BNP Paribas Exane increased their price objective on shares of Iron Mountain from $138.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. The Goldman Sachs Group boosted their target price on shares of Iron Mountain from $153.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. Weiss Ratings lowered shares of Iron Mountain from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. JPMorgan Chase & Co. dropped their price target on shares of Iron Mountain from $147.00 to $124.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Jefferies Financial Group cut their price target on shares of Iron Mountain from $147.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.33.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William Meaney sold 38,474 shares of the business’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 in the company, valued at $4,389,113.92. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Greg McIntosh sold 5,000 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $116.96, for a total transaction of $584,800.00. Following the completion of the sale, the executive vice president directly owned 65,634 shares of the company’s stock, valued at $7,676,552.64. The trade was a 7.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 136,422 shares of company stock worth $15,116,038. Company insiders own 1.70% of the company’s stock.

Iron Mountain Trading Up 4.1%

Shares of Iron Mountain stock opened at $110.92 on Tuesday. The business’s fifty day moving average price is $113.62 and its 200 day moving average price is $115.47. Iron Mountain Incorporated has a twelve month low of $77.77 and a twelve month high of $134.68. The stock has a market capitalization of $33.02 billion, a P/E ratio of 72.49 and a beta of 1.18.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, November 5th. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.61 by $0.03. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.99 billion. Iron Mountain had a negative return on equity of 85.44% and a net margin of 5.54%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.32 earnings per share. As a group, sell-side analysts predict that Iron Mountain Incorporated will post 5.42 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 6th. Investors of record on Tuesday, December 15th will be issued a $0.9930 dividend. The ex-dividend date is Tuesday, December 15th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.8640. This represents a $3.97 annualized dividend and a yield of 3.6%. Iron Mountain’s payout ratio is 226.14%.

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.

Founded in 1951, Iron Mountain began as a records-storage business in a former iron ore mine in New York.