Aurora Investment Counsel Purchases 494 Shares of Iron Mountain Incorporated $IRM

Aurora Investment Counsel increased its position in Iron Mountain Incorporated (NYSE:IRM) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,938 shares of the financial services provider’s stock after acquiring an additional 494 shares during the period. Iron Mountain makes up 1.4% of Aurora Investment Counsel’s portfolio, making the stock its 9th biggest position. Aurora Investment Counsel’s holdings in Iron Mountain were worth $2,660,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Iron Mountain by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 46,825,734 shares of the financial services provider’s stock worth $4,028,886,000 after acquiring an additional 220,564 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Iron Mountain by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,256,417 shares of the financial services provider’s stock worth $366,210,000 after acquiring an additional 37,154 shares during the period. Invesco Ltd. increased its holdings in shares of Iron Mountain by 14.7% in the 1st quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider’s stock worth $245,124,000 after acquiring an additional 366,134 shares during the period. Nuveen LLC acquired a new stake in shares of Iron Mountain in the 1st quarter worth about $192,231,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Iron Mountain by 17.8% in the 1st quarter. JPMorgan Chase & Co. now owns 2,061,560 shares of the financial services provider’s stock worth $177,377,000 after acquiring an additional 311,494 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total value of $7,074,252.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was 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 approximately $7,200,325.05. The trade was a 7.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 213,375 shares of company stock valued at $20,347,156 in the last quarter. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

IRM has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. Jefferies Financial Group initiated coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They set a “buy” rating and a $120.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Zacks Research cut shares of Iron Mountain from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Finally, Barclays raised their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and a consensus target price of $116.83.

Iron Mountain Price Performance

Shares of IRM opened at $105.74 on Tuesday. The firm’s 50 day moving average is $97.99 and its 200-day moving average is $96.35. The stock has a market capitalization of $31.23 billion, a P/E ratio of 755.34 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 announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping 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 net margin of 0.66% and a negative return on equity of 146.80%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS. As a group, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders 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 annualized dividend and a dividend yield of 3.0%. Iron Mountain’s payout ratio is currently 2,242.86%.

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.