Pegasus Asset Management Inc. Buys Shares of 1,950 Iron Mountain Incorporated $IRM

Pegasus Asset Management Inc. bought a new stake in Iron Mountain Incorporated (NYSE:IRM) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 1,950 shares of the financial services provider’s stock, valued at approximately $200,000.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Iron Mountain by 0.5% in the first quarter. Vanguard Group Inc. now owns 46,825,734 shares of the financial services provider’s stock valued at $4,028,886,000 after acquiring an additional 220,564 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Iron Mountain by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,256,417 shares of the financial services provider’s stock worth $366,210,000 after buying an additional 37,154 shares during the period. Invesco Ltd. raised its stake 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 buying an additional 366,134 shares during the period. Nuveen LLC bought a new position in shares of Iron Mountain in the first quarter worth about $192,231,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Iron Mountain by 17.8% in the first quarter. JPMorgan Chase & Co. now owns 2,061,560 shares of the financial services provider’s stock worth $177,377,000 after buying an additional 311,494 shares during the period. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Down 2.8%

Shares of IRM opened at $101.98 on Monday. The business’s 50 day moving average is $96.49 and its 200 day moving average is $95.51. The company has a market capitalization of $30.12 billion, a PE ratio of 728.48 and a beta of 1.06. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last issued its 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 the consensus estimate 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 quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $1.08 EPS. Equities research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were paid a $0.785 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a yield of 3.1%. Iron Mountain’s payout ratio is presently 2,242.86%.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total value of $7,074,252.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total value of $546,300.00. Following the completion of the sale, the executive vice president directly owned 79,081 shares in the company, valued at approximately $7,200,325.05. The trade was a 7.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 213,375 shares of company stock valued at $20,347,156 in the last quarter. 1.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IRM has been the topic of several recent research reports. Barclays raised their price objective on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. decreased their price objective on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group started coverage on Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Iron Mountain currently has a consensus rating of “Buy” and a consensus target price of $116.83.

Iron Mountain 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.