Creative Planning Raises Stock Position in Iron Mountain Incorporated (NYSE:IRM)

VaselineOctober 3, 2024

0 4 minutes read

Creative Planning boosted its holdings in Iron Mountain Incorporated (NYSE:IRM – Free Report) by 16.3% during the second quarter, Holdings Channel reports. The firm owned 96,822 shares of the financial services provider’s stock after acquiring an additional 13,583 shares during the period. Creative Planning’s holdings in Iron Mountain were worth $8,677,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Iron Mountain in the second quarter valued at $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Iron Mountain in the second quarter valued at $36,000. Headlands Technologies LLC purchased a new position in Iron Mountain in the first quarter worth $38,000. Family Firm Inc. purchased a new position in Iron Mountain in the second quarter valued at $45,000. Finally, Transcendent Capital Group LLC purchased a new position in Iron Mountain in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 80.13% of the company’s shares.

Analyst upgrades and downgrades

A number of research analysts recently commented on the company. Wells Fargo & Company boosted their price target on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Goldman Sachs Group boosted their price target on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price target on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Moderate Buy” and an average price target of $106.00, according to MarketBeat.com.

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Iron Mountain stock performance

NYSE:IRM opened at $119.40 on Thursday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79, and a current ratio of 0.79. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $120.54. The firm has a market cap of $35.00 billion, a price-to-earnings ratio of 180.91, a PEG ratio of 7.09 and a beta of 1.00. The company’s fifty-day moving average is $111.39, and its 200-day moving average is $93.38.

Iron Mountain (NYSE:IRM – Get Your Free Report ) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. In the same quarter last year, the company posted earnings of $0.94 per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. research analysts predict that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain increases dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be given a $0.715 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a dividend of $2.86 on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Monday, September 16. Iron Mountain’s dividend payout ratio is currently 433.33%.

Insiders place their bets

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $91.59, for a total value of $1,453,991.25. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $27,078,583.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. In other Iron Mountain news, EVP Edward Baker-Greene sold 2,262 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares in the company, valued at approximately $993,127.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $91.59, for a total value of $1,453,991.25. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $27,078,583.50. The disclosure for this sale can be found here. Insiders have sold 33,003 shares of company stock worth $3,352,406 over the last ninety days. 2.10% of shares are currently owned by insiders.

Iron Mountain Profile

(Free Report)

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and enhance our customers’ workforce. Through a wide range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps companies bring light to their data dark, enabling customers to unlock value and intelligence from their stored digital and physical assets with speed and security, while helping them achieve their environmental goals.