Chevy Chase Trust Holdings LLC Acquires 1,787 Shares of Iron Mountain Incorporated $IRM

Chevy Chase Trust Holdings LLC raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,840 shares of the financial services provider’s stock after acquiring an additional 1,787 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Iron Mountain worth $15,985,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of IRM. Nuveen LLC bought a new stake in Iron Mountain during the first quarter valued at about $192,231,000. Contour Asset Management LLC bought a new stake in Iron Mountain during the first quarter valued at about $122,801,000. Goldman Sachs Group Inc. increased its holdings in shares of Iron Mountain by 86.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock worth $169,922,000 after purchasing an additional 913,715 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Iron Mountain by 117.7% in the first quarter. Principal Financial Group Inc. now owns 904,184 shares of the financial services provider’s stock worth $77,796,000 after purchasing an additional 488,816 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Iron Mountain by 14.7% in the first quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider’s stock worth $245,124,000 after purchasing an additional 366,134 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total value of $546,300.00. Following the transaction, the executive vice president owned 79,081 shares of the company’s stock, valued at $7,200,325.05. This trade represents a 7.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 213,375 shares of company stock worth $20,347,156 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Zacks Research cut Iron Mountain from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Barclays lifted 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Finally, Jefferies Financial Group assumed coverage on Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and an average price target of $116.83.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $104.60 on Friday. The business’s 50 day moving average is $97.67 and its two-hundred day moving average is $96.06. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The stock has a market capitalization of $30.89 billion, a P/E ratio of 747.20 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data 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 company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were given a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, September 15th. Iron Mountain’s payout ratio is 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.