Arista Wealth Management LLC Buys Shares of 12,301 Iron Mountain Incorporated $IRM

Key Points

• Arista Wealth Management LLC acquired 12,301 shares of Iron Mountain Incorporated (NYSE:IRM), valued at approximately $1.26 million, as disclosed in a recent SEC filing.
• Iron Mountain reported a quarterly earnings per share (EPS) of $1.24, exceeding analyst estimates of $1.19, with year-over-year revenue growth of 11.6%.
• The company declared a quarterly dividend of $0.785, translating to an annualized dividend of $3.14 and a yield of 3.0%, despite a high payout ratio of 2,242.86%.

Arista Wealth Management LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,301 shares of the financial services provider's stock, valued at approximately $1,262,000.

A number of other hedge funds have also recently bought and sold shares of IRM. Financial Network Wealth Advisors LLC purchased a new position in shares of Iron Mountain during the 1st quarter worth $26,000. Golden State Wealth Management LLC purchased a new position in shares of Iron Mountain during the 1st quarter worth about $30,000. Ramirez Asset Management Inc. acquired a new position in Iron Mountain during the first quarter worth approximately $34,000. Wayfinding Financial LLC acquired a new position in shares of Iron Mountain in the 1st quarter valued at $37,000. Finally, Crewe Advisors LLC increased its holdings in shares of Iron Mountain by 10,000.0% during the 1st quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider's stock worth $43,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Price Performance

IRM opened at $105.84 on Friday. The stock has a market capitalization of $31.26 billion, a PE ratio of 756.05 and a beta of 1.06. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The firm's fifty day moving average price is $97.38 and its 200 day moving average price is $95.89.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the business posted $1.08 EPS. The company's revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, September 15th. Iron Mountain's payout ratio is 2,242.86%.

Analyst Ratings Changes

IRM has been the topic of a number of research reports. Zacks Research downgraded Iron Mountain from a "hold" rating to a "strong sell" rating in a report on Monday. Jefferies Financial Group began coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They issued a "buy" rating and a $120.00 target price on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Barclays raised their price objective on Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. lowered their target price 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. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Iron Mountain currently has a consensus rating of "Moderate Buy" and a consensus price target of $116.83.

Insider Buying and Selling

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total value of $546,300.00. Following the completion of the transaction, the executive vice president owned 79,081 shares of the company's stock, valued at $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 SEC, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The disclosure for this sale can be found here. Insiders have sold 213,375 shares of company stock worth $20,347,156 over the last ninety days. 1.90% of the stock is owned by insiders.

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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