6,655 Shares in Iron Mountain Incorporated $IRM Acquired by Smith Asset Management Co. LLC

Key Points

• Smith Asset Management Co. LLC acquired 6,655 shares of Iron Mountain Incorporated, valued at approximately $573,000, during the first quarter.
• Wall Street analysts have mixed views on Iron Mountain, with price targets ranging from $100.00 to $122.00 and an average rating of "Buy".
• Iron Mountain recently announced a quarterly dividend of $0.785, representing an annualized yield of 3.4% and a high payout ratio of 2,242.86%.

Smith Asset Management Co. LLC purchased a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,655 shares of the financial services provider's stock, valued at approximately $573,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. lifted its stake in Iron Mountain by 3.4% in the first quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider's stock worth $281,000 after acquiring an additional 108 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in Iron Mountain by 3.7% in the first quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider's stock worth $285,000 after acquiring an additional 118 shares during the last quarter. Diversify Advisory Services LLC lifted its stake in Iron Mountain by 1.9% in the first quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider's stock worth $572,000 after acquiring an additional 123 shares during the last quarter. NorthRock Partners LLC lifted its stake in Iron Mountain by 2.6% in the first quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider's stock worth $440,000 after acquiring an additional 131 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its stake in Iron Mountain by 2.6% in the first quarter. Financial Management Professionals Inc. now owns 5,574 shares of the financial services provider's stock worth $480,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IRM. JPMorgan Chase & Co. decreased their price target on shares of 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 boosted their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $120.17.

Insider Buying and Selling at Iron Mountain

In other news, EVP Greg W. Mcintosh sold 17,334 shares of Iron Mountain stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total value of $1,733,400.00. Following the transaction, the executive vice president directly owned 35,446 shares of the company's stock, valued at $3,544,600. The trade was a 32.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Tuesday, July 1st. The shares were 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. Over the last quarter, insiders sold 236,709 shares of company stock valued at $22,555,809. Insiders own 1.90% of the company's stock.

Iron Mountain Trading Up 0.2%

Shares of NYSE:IRM opened at $92.32 on Tuesday. The company has a market capitalization of $27.27 billion, a PE ratio of 659.49 and a beta of 1.08. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The firm has a 50 day simple moving average of $95.18 and a 200-day simple moving average of $93.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The company's revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 EPS. As a group, equities research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, September 15th. Iron Mountain's payout ratio is presently 2,242.86%.

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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