Cambridge Investment Research Advisors Inc. Buys 4,741 Shares of Iron Mountain Incorporated (NYSE:IRM)

Posted by Defense World Staff on Sep 24th, 2023

Cambridge Investment Research Advisors Inc. grew its holdings in Iron Mountain Incorporated (NYSE:IRM – Free Report) by 4.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 116,794 shares of the financial services provider’s stock after buying an additional 4,741 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Iron Mountain were worth $6,636,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Compass Wealth Management LLC bought a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $26,000. BOKF NA bought a new stake in shares of Iron Mountain in the first quarter valued at approximately $31,000. True Wealth Design LLC bought a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $33,000. Kalos Management Inc. bought a new stake in shares of Iron Mountain in the first quarter valued at approximately $36,000. Finally, Tucker Asset Management LLC bought a new stake in shares of Iron Mountain in the first quarter valued at approximately $37,000. Institutional investors own 76.94% of the company’s stock.

Insiders Place Their Bets

In other Iron Mountain news, COO John Tomovcsik sold 41,859 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $62.97, for a total value of $2,635,861.23. Following the completion of the transaction, the chief operating officer now owns 20,455 shares of the company’s stock, valued at approximately $1,288,051.35. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Iron Mountain news, Director Wendy J. Murdock sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $61.53, for a total value of $738,360.00. Following the completion of the transaction, the director now owns 25,991 shares of the company’s stock, valued at approximately $1,599,226.23. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO John Tomovcsik sold 41,859 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $62.97, for a total transaction of $2,635,861.23. Following the completion of the sale, the chief operating officer now directly owns 20,455 shares of the company’s stock, valued at approximately $1,288,051.35. The disclosure for this sale can be found here. Insiders sold a total of 79,254 shares of company stock valued at $4,891,973 in the last quarter. Corporate insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IRM. Royal Bank of Canada raised shares of Iron Mountain from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $58.00 to $68.00 in a report on Monday, August 21st. Barclays upped their target price on shares of Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Finally, StockNews.com began coverage on shares of Iron Mountain in a report on Thursday, August 17th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and an average target price of $65.75.

Check Out Our Latest Research Report on Iron Mountain

Iron Mountain Price Performance

IRM stock opened at $61.89 on Friday. The company has a debt-to-equity ratio of 26.77, a current ratio of 0.78 and a quick ratio of 0.78. Iron Mountain Incorporated has a one year low of $43.33 and a one year high of $64.48. The stock has a market cap of $18.06 billion, a PE ratio of 47.61, a P/E/G ratio of 4.10 and a beta of 0.92. The firm has a 50 day simple moving average of $61.74 and a two-hundred day simple moving average of $57.02.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date is Thursday, September 14th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.62. Iron Mountain’s payout ratio is currently 200.00%.

Iron Mountain Profile

(Free Report)

Iron Mountain Incorporated (NYSE: IRM) is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER to transform their businesses.