Alyeska Investment Group L.P. Makes New $15.19 Million Investment in Iron Mountain Incorporated $IRM

Key Points

• Alyeska Investment Group L.P. acquired 176,584 shares of Iron Mountain Incorporated (NYSE: IRM), valued at approximately $15.19 million, during the 1st quarter.
• Iron Mountain announced a quarterly dividend of $0.785, with an annualized yield of 3.4%, to be paid on October 3rd.
• Wall Street analysts have a consensus rating of "Buy" for Iron Mountain, with a target price averaging $120.17.

Alyeska Investment Group L.P. bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 176,584 shares of the financial services provider's stock, valued at approximately $15,193,000. Alyeska Investment Group L.P. owned 0.06% of Iron Mountain as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Cranbrook Wealth Management LLC purchased a new stake in shares of Iron Mountain during the 1st quarter worth about $26,000. Financial Network Wealth Advisors LLC purchased a new stake in shares of Iron Mountain during the 1st quarter worth about $26,000. Golden State Wealth Management LLC purchased a new stake in shares of Iron Mountain during the 1st quarter worth about $30,000. Ramirez Asset Management Inc. purchased a new stake in shares of Iron Mountain during the 1st quarter worth about $34,000. Finally, Wayfinding Financial LLC purchased a new position in Iron Mountain in the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Insider Transactions at Iron Mountain

In related news, 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 transaction of $546,300.00. Following the sale, the executive vice president directly owned 79,081 shares of the company's stock, valued at approximately $7,200,325.05. This represents a 7.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Greg W. Mcintosh sold 17,334 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president directly owned 35,446 shares in the company, valued at approximately $3,544,600. This represents a 32.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 236,709 shares of company stock valued at $22,555,809. 1.90% of the stock is currently owned by insiders.

Iron Mountain Stock Up 0.2%

Shares of Iron Mountain stock traded up $0.14 on Monday, hitting $92.32. 1,572,599 shares of the company's stock traded hands, compared to its average volume of 1,790,235. The stock has a market cap of $27.27 billion, a P/E ratio of 659.49 and a beta of 1.08. The firm's 50-day moving average is $95.38 and its 200 day moving average is $93.23. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.19 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations 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 prior year, the business posted $1.08 EPS. Equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

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 paid a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, September 15th. Iron Mountain's dividend payout ratio is 2,242.86%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barclays upped their price target on Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. 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 report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $120.17.

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.