Quantinno Capital Management LP Acquires 154,910 Shares of Iron Mountain Incorporated $IRM

Quantinno Capital Management LP increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 92.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 322,017 shares of the financial services provider’s stock after purchasing an additional 154,910 shares during the quarter. Quantinno Capital Management LP’s holdings in Iron Mountain were worth $32,891,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in IRM. Norges Bank bought a new position in Iron Mountain in the 4th quarter worth approximately $368,890,000. Cohen & Steers Inc. raised its position in shares of Iron Mountain by 20.0% during the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock valued at $1,568,110,000 after buying an additional 3,155,034 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Iron Mountain by 597.9% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,161,589 shares of the financial services provider’s stock worth $322,292,000 after buying an additional 2,708,560 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Iron Mountain by 66.5% in the fourth quarter. Principal Financial Group Inc. now owns 4,207,596 shares of the financial services provider’s stock worth $349,021,000 after buying an additional 1,680,438 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Iron Mountain by 18.1% during the third quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider’s stock worth $516,481,000 after acquiring an additional 776,933 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 38,474 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $122.83, for a total value of $4,725,761.42. Following the sale, the chief executive officer directly owned 38,474 shares in the company, valued at $4,725,761.42. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Walter C. Rakowich sold 757 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $124.45, for a total transaction of $94,208.65. Following the sale, the director owned 1,135 shares in the company, valued at $141,250.75. This represents a 40.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 137,260 shares of company stock worth $17,361,672. Insiders own 1.70% of the company’s stock.

Iron Mountain Stock Performance

IRM stock opened at $124.42 on Friday. The firm has a fifty day moving average price of $125.26 and a 200 day moving average price of $113.70. Iron Mountain Incorporated has a fifty-two week low of $77.77 and a fifty-two week high of $134.68. The firm has a market cap of $37.02 billion, a PE ratio of 136.72 and a beta of 1.19.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm earned $1.17 earnings per share. Iron Mountain’s revenue was up 21.5% on a year-over-year basis. On average, equities analysts predict that Iron Mountain Incorporated will post 5.4 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IRM. Wells Fargo & Company raised their target price on shares of Iron Mountain from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Barclays increased their price objective on shares of Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. JPMorgan Chase & Co. raised their price objective on Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Weiss Ratings raised Iron Mountain from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.33.

Iron Mountain Company Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.