3,452 Shares in Iron Mountain Incorporated $IRM Bought by Diversified Trust Co

Key Points

• Diversified Trust Co acquired a new position in Iron Mountain Incorporated by purchasing 3,452 shares valued at approximately $354,000.
• CEO William L. Meaney sold 138,250 shares of Iron Mountain stock over two transactions, amounting to around $13.13 million combined.
• The company announced a quarterly dividend of $0.785 per share, representing a 3.0% annual yield, set to be paid on October 3rd.

Diversified Trust Co purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,452 shares of the financial services provider's stock, valued at approximately $354,000.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Iron Mountain by 0.5% during the first quarter. Vanguard Group Inc. now owns 46,825,734 shares of the financial services provider's stock worth $4,028,886,000 after buying an additional 220,564 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in 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 valued at $366,210,000 after purchasing an additional 37,154 shares during the period. Invesco Ltd. grew its stake in Iron Mountain by 14.7% in the 1st quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider's stock valued at $245,124,000 after purchasing an additional 366,134 shares during the period. Nuveen LLC bought a new position in Iron Mountain in the 1st quarter valued at $192,231,000. Finally, JPMorgan Chase & Co. grew its stake in 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 valued at $177,377,000 after purchasing an additional 311,494 shares during the period. Institutional investors own 80.13% of the company's stock.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $89.56, for a total transaction of $6,190,835.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total transaction of $6,937,385.00. The disclosure for this sale can be found here. Insiders sold 236,709 shares of company stock worth $22,555,809 over the last quarter. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IRM. JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Barclays upped their price objective on Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. Finally, Jefferies Financial Group began coverage on Iron Mountain in a research note on Monday. They issued a "buy" rating and a $120.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $116.83.

Iron Mountain Stock Performance

IRM stock opened at $104.14 on Wednesday. The company has a market capitalization of $30.76 billion, a price-to-earnings ratio of 743.92 and a beta of 1.08. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The stock has a fifty day moving average of $95.24 and a 200-day moving average of $93.99.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.05. The company had revenue of $1.68 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.08 EPS. Equities analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be paid a $0.785 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.14 annualized dividend and a yield of 3.0%. Iron Mountain's dividend payout ratio (DPR) 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.

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