Ieq Capital LLC Purchases 1,304 Shares of Iron Mountain Incorporated $IRM

Ieq Capital LLC lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 7.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,264 shares of the financial services provider’s stock after purchasing an additional 1,304 shares during the quarter. Ieq Capital LLC’s holdings in Iron Mountain were worth $1,571,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. boosted its position in shares of Iron Mountain by 3.4% during the first quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 108 shares in the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Iron Mountain by 3.7% during the first quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 118 shares in the last quarter. Diversify Advisory Services LLC boosted its position in shares of Iron Mountain by 1.9% during the first quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider’s stock valued at $572,000 after purchasing an additional 123 shares in the last quarter. NorthRock Partners LLC boosted its position in shares of Iron Mountain by 2.6% during the first quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider’s stock valued at $440,000 after purchasing an additional 131 shares in the last quarter. Finally, Financial Management Professionals Inc. boosted its position in shares of Iron Mountain by 2.6% during the first quarter. Financial Management Professionals Inc. now owns 5,574 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 140 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IRM. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Barclays boosted their target price on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $120.17.

Iron Mountain Trading Up 0.3%

Iron Mountain stock opened at $92.28 on Tuesday. The business’s fifty day simple moving average is $96.36 and its two-hundred day simple moving average is $93.32. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The company has a market capitalization of $27.26 billion, a price-to-earnings ratio of 659.20 and a beta of 1.08.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the business earned $1.08 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. On average, equities research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be paid a $0.785 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.14 annualized dividend and a dividend yield of 3.4%. Iron Mountain’s payout ratio is currently 2,242.86%.

Insiders Place Their Bets

In other news, Director Walter C. Rakowich sold 900 shares of the business’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total value of $89,973.00. Following the completion of the transaction, the director owned 36,515 shares in the company, valued at $3,650,404.55. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total value of $6,937,385.00. The disclosure for this sale can be found here. Insiders have sold 162,484 shares of company stock worth $15,908,647 over the last three months. Company insiders own 1.90% of the company’s stock.

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.