Oppenheimer Asset Management Inc. Grows Holdings in Iron Mountain Incorporated $IRM

Oppenheimer Asset Management Inc. grew its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 9.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,016 shares of the financial services provider’s stock after purchasing an additional 1,173 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Iron Mountain were worth $1,438,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of IRM. Kestra Private Wealth Services LLC boosted its holdings in shares of Iron Mountain by 14.7% during the first quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider’s stock worth $1,251,000 after purchasing an additional 1,860 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in 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 valued at $169,922,000 after purchasing an additional 913,715 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in Iron Mountain during the first quarter worth about $30,000. Steward Partners Investment Advisory LLC boosted its stake in Iron Mountain by 1.4% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 38,032 shares of the financial services provider’s stock worth $3,272,000 after buying an additional 513 shares during the last quarter. Finally, Penobscot Investment Management Company Inc. purchased a new stake in Iron Mountain in the 2nd quarter valued at about $517,000. Institutional investors and hedge funds 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 business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The transaction was disclosed in a legal filing 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 on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total transaction of $546,300.00. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 144,250 shares of company stock worth $13,811,388 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Down 0.1%

Iron Mountain stock opened at $101.25 on Friday. The firm has a fifty day moving average of $99.94 and a 200-day moving average of $97.53. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $127.29. The firm has a market capitalization of $29.90 billion, a P/E ratio of 723.26 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share 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 firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the company earned $1.08 EPS. The firm’s revenue was up 11.6% on a year-over-year basis. On average, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were issued a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is presently 2,242.86%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IRM. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Jefferies Financial Group initiated coverage on shares of Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 price target for the company. JPMorgan Chase & Co. decreased their price target on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Barclays upped their price objective 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, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.83.

Iron Mountain Company Profile

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.