Dimensional Fund Advisors LP Acquires 37,154 Shares of Iron Mountain Incorporated $IRM

Key Points

• Dimensional Fund Advisors LP increased its stake in Iron Mountain by 0.9%, owning approximately 4.26 million shares valued at $366.21 million as of the end of the most recent quarter.
• Iron Mountain's quarterly earnings surpassed analysts' expectations, reporting $1.24 earnings per share, beating estimates of $1.19, while revenue for the quarter increased by 11.6% year-over-year.
• The company announced a quarterly dividend of $0.785 per share, scheduled for payment on October 3rd, representing a yield of 3.4% on an annualized basis.

Dimensional Fund Advisors LP increased its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,256,417 shares of the financial services provider's stock after purchasing an additional 37,154 shares during the period. Dimensional Fund Advisors LP owned approximately 1.44% of Iron Mountain worth $366,210,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cranbrook Wealth Management LLC bought a new position in shares of Iron Mountain in the first quarter worth approximately $26,000. Financial Network Wealth Advisors LLC bought a new position in shares of Iron Mountain in the first quarter worth approximately $26,000. Golden State Wealth Management LLC bought a new position in shares of Iron Mountain in the first quarter worth approximately $30,000. Ramirez Asset Management Inc. bought a new position in shares of Iron Mountain in the first quarter worth approximately $34,000. Finally, Wayfinding Financial LLC bought a new position in shares of Iron Mountain in the first quarter worth approximately $37,000. 80.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total value of $612,120.00. Following the completion of the sale, the executive vice president owned 91,081 shares of the company's stock, valued at $9,292,083.62. This trade represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $94.55, for a total value of $6,535,768.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 240,007 shares of company stock worth $23,543,507. Insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

IRM has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Barclays increased their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $120.17.

Iron Mountain Trading Up 0.0%

Shares of NYSE:IRM traded up $0.0020 during trading on Wednesday, reaching $91.5620. 657,214 shares of the company traded hands, compared to its average volume of 1,829,567. The firm has a market capitalization of $27.04 billion, a price-to-earnings ratio of 653.87 and a beta of 1.07. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The business's fifty day moving average is $98.21 and its 200-day moving average is $94.04.

Iron Mountain (NYSE:IRM - Get Free Report) last released 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. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 earnings per share. On average, sell-side analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be paid a $0.785 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a yield of 3.4%. Iron Mountain's dividend payout ratio (DPR) is presently 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.