Iron Mountain Incorporated $IRM Shares Acquired by Atwood & Palmer Inc.

Atwood & Palmer Inc. lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 14.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,445 shares of the financial services provider’s stock after purchasing an additional 1,195 shares during the quarter. Atwood & Palmer Inc.’s holdings in Iron Mountain were worth $969,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Nuveen LLC purchased a new position in Iron Mountain in the first quarter valued at about $192,231,000. Contour Asset Management LLC purchased a new position in Iron Mountain in the first quarter valued at about $122,801,000. Goldman Sachs Group Inc. increased its position in shares of Iron Mountain by 86.1% during 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 acquiring an additional 913,715 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Iron Mountain by 117.7% during the first quarter. Principal Financial Group Inc. now owns 904,184 shares of the financial services provider’s stock worth $77,796,000 after acquiring an additional 488,816 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Iron Mountain during the fourth quarter worth about $39,687,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Trading Down 2.0%

Shares of NYSE IRM opened at $96.82 on Monday. The company has a market cap of $28.60 billion, a PE ratio of 691.64 and a beta of 1.08. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The stock has a 50 day simple moving average of $94.93 and a 200-day simple moving average of $93.39.

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

Iron Mountain Dividend Announcement

The business 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 of this dividend is Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.2%. Iron Mountain’s dividend payout ratio is 2,242.86%.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total value of $6,937,385.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $89.56, for a total transaction of $6,190,835.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 236,709 shares of company stock valued at $22,555,809. 1.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

IRM has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their target price 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 lifted their target price on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research 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 stock. Based on data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Buy” and a consensus target price of $120.17.

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.