Comprehensive Money Management Services LLC Invests $1.50 Million in Iron Mountain Incorporated (NYSE:IRM)

Comprehensive Money Management Services LLC purchased a new stake in Iron Mountain Incorporated (NYSE:IRM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 14,263 shares of the financial services provider’s stock, valued at approximately $1,499,000. Iron Mountain makes up 1.2% of Comprehensive Money Management Services LLC’s investment portfolio, making the stock its 16th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new stake in shares of Iron Mountain in the fourth quarter worth $314,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Iron Mountain in the 4th quarter worth about $39,687,000. Employees Retirement System of Texas boosted its stake in Iron Mountain by 28.6% in the fourth quarter. Employees Retirement System of Texas now owns 130,500 shares of the financial services provider’s stock worth $13,717,000 after buying an additional 29,000 shares in the last quarter. Polar Asset Management Partners Inc. boosted its stake in shares of Iron Mountain by 227.5% in the 4th quarter. Polar Asset Management Partners Inc. now owns 141,500 shares of the financial services provider’s stock valued at $14,873,000 after purchasing an additional 98,300 shares in the last quarter. Finally, Putney Financial Group LLC purchased a new stake in Iron Mountain during the fourth quarter valued at about $518,000. 80.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IRM has been the subject of several recent research reports. Truist Financial assumed coverage on Iron Mountain in a research report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Wall Street Zen upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday, April 18th. Barclays reduced their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Finally, Wells Fargo & Company reduced their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $121.29.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $96.09, for a total transaction of $6,642,221.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Daniel Borges sold 6,433 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the transaction, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at approximately $26,737.92. The trade was a 95.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 318,973 shares of company stock worth $29,112,345 in the last three months. 2.10% of the stock is owned by company insiders.

Iron Mountain Price Performance

Shares of IRM stock opened at $96.22 on Tuesday. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The firm has a fifty day moving average price of $89.14 and a 200-day moving average price of $99.03. The company has a market cap of $28.39 billion, a price-to-earnings ratio of 157.74, a PEG ratio of 5.15 and a beta of 1.08.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.01. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.10 EPS. Equities research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be paid a $0.785 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.14 annualized dividend and a yield of 3.26%. Iron Mountain’s payout ratio is 765.85%.

About Iron Mountain

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 elevate the power of our customers’ work. Through a 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 businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.