B&I Capital AG Makes New Investment in Iron Mountain Incorporated (NYSE:IRM)

B&I Capital AG bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 76,660 shares of the financial services provider's stock, valued at approximately $6,596,000. Iron Mountain comprises approximately 2.1% of B&I Capital AG's portfolio, making the stock its 20th biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Y Intercept Hong Kong Ltd increased its position in shares of Iron Mountain by 73.8% during the first quarter. Y Intercept Hong Kong Ltd now owns 47,980 shares of the financial services provider's stock worth $4,128,000 after acquiring an additional 20,376 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Iron Mountain by 12.6% during the first quarter. Allianz Asset Management GmbH now owns 55,250 shares of the financial services provider's stock valued at $4,754,000 after purchasing an additional 6,197 shares during the last quarter. West Wealth Group LLC grew its holdings in shares of Iron Mountain by 10.0% during the first quarter. West Wealth Group LLC now owns 5,500 shares of the financial services provider's stock valued at $478,000 after purchasing an additional 500 shares during the last quarter. Blue Bell Private Wealth Management LLC acquired a new position in shares of Iron Mountain during the first quarter worth approximately $169,000. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of Iron Mountain by 4.3% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 22,601 shares of the financial services provider's stock worth $1,944,000 after buying an additional 941 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Trading Down 0.2%

NYSE:IRM traded down $0.19 during mid-day trading on Tuesday, hitting $98.54. 144,104 shares of the company's stock traded hands, compared to its average volume of 1,767,538. The firm has a 50 day moving average of $99.98 and a two-hundred day moving average of $95.54. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The firm has a market capitalization of $29.07 billion, a price-to-earnings ratio of 240.48 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.16 by $0.01. The firm had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The company's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 EPS. As a group, equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th were issued a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, June 16th. Iron Mountain's payout ratio is 765.85%.

Insider Activity

In other news, Director Walter C. Rakowich sold 900 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the completion of the sale, the director owned 36,515 shares of the company's stock, valued at approximately $3,650,404.55. This trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction that occurred 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. In the last ninety days, insiders sold 240,007 shares of company stock worth $23,649,959. Corporate insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

IRM has been the subject of a number of research analyst reports. Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Truist Financial initiated coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target on the stock. Finally, Barclays upped their price target on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Iron Mountain presently has a consensus rating of "Buy" and a consensus price target of $121.71.

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.

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