Aigen Investment Management LP Takes Position in Iron Mountain Incorporated (NYSE:IRM)

Aigen Investment Management LP bought a new stake in Iron Mountain Incorporated (NYSE:IRM) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,860 shares of the financial services provider’s stock, valued at approximately $460,000.

A number of other institutional investors have also bought and sold shares of IRM. Exchange Traded Concepts LLC increased its holdings in shares of Iron Mountain by 282.1% in the second quarter. Exchange Traded Concepts LLC now owns 745 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 550 shares during the last quarter. Bogart Wealth LLC bought a new position in Iron Mountain in the 2nd quarter valued at about $36,000. Private Ocean LLC acquired a new stake in Iron Mountain during the second quarter worth approximately $38,000. Founders Capital Management boosted its holdings in shares of Iron Mountain by 58.3% during the second quarter. Founders Capital Management now owns 950 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 350 shares during the period. Finally, Avion Wealth acquired a new position in shares of Iron Mountain in the second quarter valued at approximately $45,000. Institutional investors and hedge funds own 77.85% of the company’s stock.

In other news, CAO Daniel Borges sold 1,860 shares of Iron Mountain stock in a transaction dated Thursday, September 9th. The stock was sold at an average price of $48.20, for a total transaction of $89,652.00. Following the sale, the chief accounting officer now directly owns 1,860 shares of the company’s stock, valued at $89,652. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kris Halvorsen sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 23rd. The shares were sold at an average price of $43.45, for a total transaction of $86,900.00. Following the completion of the transaction, the director now owns 34,458 shares of the company’s stock, valued at approximately $1,497,200.10. The disclosure for this sale can be found here. In the last three months, insiders sold 34,097 shares of company stock valued at $1,645,313. 2.10% of the stock is owned by insiders.

Shares of IRM opened at $45.44 on Wednesday. The company has a debt-to-equity ratio of 7.63, a quick ratio of 0.80 and a current ratio of 0.80. Iron Mountain Incorporated has a 52-week low of $24.85 and a 52-week high of $49.58. The firm has a market cap of $13.15 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 4.43 and a beta of 0.79. The business’s fifty day moving average is $45.38 and its 200-day moving average is $42.23.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, August 5th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.26). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. Iron Mountain had a net margin of 14.11% and a return on equity of 51.54%. The business’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 EPS. As a group, research analysts forecast that Iron Mountain Incorporated will post 2.76 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 6th. Investors of record on Wednesday, September 15th will be given a dividend of $0.618 per share. This represents a $2.47 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date is Tuesday, September 14th. Iron Mountain’s dividend payout ratio is 80.46%.

Separately, Zacks Investment Research raised Iron Mountain from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Tuesday, August 10th. One analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $36.75.

Iron Mountain Company Profile

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.

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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