Quarry LP Acquires 1,524 Shares of Iron Mountain Incorporated $IRM

Quarry LP boosted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 174.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,399 shares of the financial services provider’s stock after acquiring an additional 1,524 shares during the quarter. Quarry LP’s holdings in Iron Mountain were worth $206,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kestra Private Wealth Services LLC increased its stake in Iron Mountain by 14.7% in the first quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider’s stock valued at $1,251,000 after acquiring an additional 1,860 shares during the period. Golden State Wealth Management LLC acquired a new position in Iron Mountain in the first quarter valued at about $30,000. Steward Partners Investment Advisory LLC boosted its position in Iron Mountain by 1.4% in the first quarter. Steward Partners Investment Advisory LLC now owns 38,032 shares of the financial services provider’s stock valued at $3,272,000 after buying an additional 513 shares in the last quarter. Inspire Trust Co. N.A. boosted its position in Iron Mountain by 21.4% in the first quarter. Inspire Trust Co. N.A. now owns 17,000 shares of the financial services provider’s stock valued at $1,463,000 after buying an additional 3,000 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in Iron Mountain by 76.7% in the first quarter. HighTower Advisors LLC now owns 109,124 shares of the financial services provider’s stock valued at $9,389,000 after buying an additional 47,380 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total transaction of $6,937,385.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total transaction of $612,120.00. Following the transaction, the executive vice president owned 91,081 shares in the company, valued at $9,292,083.62. The trade was a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 162,484 shares of company stock valued at $15,908,647 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on IRM. JPMorgan Chase & Co. reduced their price target on shares of 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 price target on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $120.17.

Iron Mountain Trading Up 0.3%

Shares of IRM stock opened at $92.28 on Tuesday. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The firm’s 50 day moving average is $96.36 and its 200-day moving average is $93.32. The firm 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 announced its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the business earned $1.08 earnings per share. Iron Mountain’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

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

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.