5,040 Shares in Iron Mountain Incorporated $IRM Acquired by Penobscot Investment Management Company Inc.

Key Points

• Penobscot Investment Management Company Inc. acquired 5,040 shares of **Iron Mountain Incorporated** (NYSE:IRM) for approximately **$517,000** in the second quarter.
• Iron Mountain recently reported a quarterly earnings per share of **$1.24**, beating expectations, and its revenue increased **11.6%** year-over-year to **$1.68 billion**.
• The company declared a quarterly dividend of **$0.785**, resulting in an annualized yield of **3.0%**, while its dividend payout ratio stands at an extremely high **2,242.86%**.

Penobscot Investment Management Company Inc. acquired a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,040 shares of the financial services provider's stock, valued at approximately $517,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Whittier Trust Co. boosted its position in shares of Iron Mountain by 3.4% during the first quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider's stock worth $281,000 after buying an additional 108 shares during the period. Cooper Financial Group boosted its position in shares of Iron Mountain by 3.7% during the second quarter. Cooper Financial Group now owns 3,155 shares of the financial services provider's stock worth $324,000 after buying an additional 113 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of Iron Mountain by 3.7% during the first quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider's stock worth $285,000 after buying an additional 118 shares during the period. Diversify Advisory Services LLC boosted its position in shares of Iron Mountain by 1.9% during the first quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider's stock worth $572,000 after buying an additional 123 shares during the period. Finally, NorthRock Partners LLC boosted its position in shares of Iron Mountain by 2.6% during the first quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider's stock worth $440,000 after buying an additional 131 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

Iron Mountain stock opened at $105.08 on Friday. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The stock has a market cap of $31.03 billion, a PE ratio of 750.60 and a beta of 1.06. The stock's fifty day moving average is $95.72 and its two-hundred day moving average is $94.86.

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, beating analysts' consensus estimates of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The company had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period last year, the firm earned $1.08 earnings per share. Iron Mountain's quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently declared 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 was Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a yield of 3.0%. Iron Mountain's dividend payout ratio (DPR) is currently 2,242.86%.

Insider Buying and Selling at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of Iron Mountain 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 sale, the executive vice president owned 79,081 shares in the company, valued at approximately $7,200,325.05. The trade was a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total value of $7,074,252.50. The disclosure for this sale can be found here. Insiders have sold a total of 213,375 shares of company stock worth $20,347,156 over the last ninety days. Corporate insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

IRM has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered their price target on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Jefferies Financial Group initiated coverage on Iron Mountain in a report on Monday, September 22nd. They issued a "buy" rating and a $120.00 target price for the company. Barclays lifted their target price on Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Iron Mountain in a report on Saturday, September 27th. One 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $116.83.

Iron Mountain Company 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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