Iron Mountain Incorporated $IRM Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 599,714 shares of the financial services provider's stock after acquiring an additional 43,882 shares during the period. Alliancebernstein L.P. owned about 0.20% of Iron Mountain worth $51,599,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Whittier Trust Co. grew its stake 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 valued at $281,000 after acquiring an additional 108 shares in the last quarter. Stratos Wealth Partners LTD. grew 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 purchasing an additional 118 shares in the last quarter. Diversify Advisory Services LLC grew 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 purchasing an additional 123 shares in the last quarter. NorthRock Partners LLC grew 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 purchasing an additional 131 shares in the last quarter. Finally, Financial Management Professionals Inc. grew 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 purchasing an additional 140 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Iron Mountain

In other Iron Mountain news, EVP Greg W. Mcintosh sold 17,334 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total value of $1,733,400.00. Following the completion of the sale, the executive vice president directly owned 35,446 shares in the company, valued at $3,544,600. This represents a 32.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total value of $546,300.00. Following the completion of the sale, the executive vice president owned 79,081 shares of the company's stock, valued at $7,200,325.05. This trade represents a 7.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 236,709 shares of company stock valued at $22,555,809. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. decreased their price target 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 lifted their target price on 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 and six have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Iron Mountain currently has a consensus rating of "Buy" and a consensus price target of $120.17.

Iron Mountain Price Performance

Shares of NYSE IRM traded up $0.90 during midday trading on Wednesday, hitting $97.57. 1,868,464 shares of the company's stock were exchanged, compared to its average volume of 1,791,326. The stock's 50 day moving average price is $95.11 and its 200-day moving average price is $93.26. The firm has a market cap of $28.82 billion, a P/E ratio of 696.99 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.

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 (EPS) 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 negative return on equity of 146.80% and a net margin of 0.66%.The business's revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 earnings per share. On average, analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, September 15th. Iron Mountain's dividend payout ratio is 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.