Callan Family Office LLC Makes New $777,000 Investment in Iron Mountain Incorporated $IRM

Key Points

• Callan Family Office LLC has made a new investment in Iron Mountain Incorporated, acquiring 7,575 shares valued at approximately $777,000 in the second quarter.
• Iron Mountain reported earnings per share of $1.24 for the last quarter, surpassing estimates, with a year-over-year revenue increase of 11.6%.
• The company announced a quarterly dividend of $0.785 per share, resulting in an annual yield of 3.1% against a very high dividend payout ratio of 2,242.86%.

Callan Family Office LLC acquired a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,575 shares of the financial services provider's stock, valued at approximately $777,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Iron Mountain by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 46,825,734 shares of the financial services provider's stock worth $4,028,886,000 after buying an additional 220,564 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Iron Mountain by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,256,417 shares of the financial services provider's stock worth $366,210,000 after acquiring an additional 37,154 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Iron Mountain by 14.7% in the 1st quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider's stock worth $245,124,000 after acquiring an additional 366,134 shares during the last quarter. Nuveen LLC bought a new stake in shares of Iron Mountain in the 1st quarter worth about $192,231,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Iron Mountain by 17.8% in the 1st quarter. JPMorgan Chase & Co. now owns 2,061,560 shares of the financial services provider's stock worth $177,377,000 after acquiring an additional 311,494 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

Shares of IRM opened at $102.31 on Tuesday. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The company has a 50-day moving average of $96.64 and a 200 day moving average of $95.63. The firm has a market capitalization of $30.22 billion, a price-to-earnings ratio of 730.84 and a beta of 1.06.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share 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 company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the business posted $1.08 EPS. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were given a dividend of $0.785 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a yield of 3.1%. Iron Mountain's dividend payout ratio (DPR) is 2,242.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on IRM shares. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Barclays raised their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Jefferies Financial Group started coverage on shares of Iron Mountain in a report on Monday, September 22nd. They issued a "buy" rating and a $120.00 target price for the company. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Iron Mountain in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $116.83.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total transaction of $546,300.00. Following the transaction, the executive vice president directly owned 79,081 shares in the company, valued at $7,200,325.05. This trade represents a 7.05% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 213,375 shares of company stock valued at $20,347,156. Company insiders own 1.90% of the company's stock.

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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