Eisler Capital Management Ltd. Takes Position in Iron Mountain Incorporated $IRM

Key Points

• Eisler Capital Management Ltd. acquired a new stake in Iron Mountain, purchasing 107,720 shares valued at approximately $9.26 million in the first quarter.
• Insider activity shows that executives Mark Kidd and William L. Meaney sold significant shares of the company, indicating a 6.18% decrease in Kidd's ownership and a total of 231,609 shares sold by insiders in the last three months.
• Analyst ratings reveal a consensus of "Buy" with a target price increase from $121.00 to $122.00 by Barclays, while JPMorgan reduced their target from $112.00 to $100.00.

Eisler Capital Management Ltd. purchased a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 107,720 shares of the financial services provider's stock, valued at approximately $9,263,000.

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

Insider Activity

In other news, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $102.02, for a total value of $612,120.00. Following the completion of the transaction, the executive vice president directly owned 91,081 shares in the company, valued at approximately $9,292,083.62. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $98.77, for a total transaction of $6,827,476.25. The disclosure for this sale can be found here. In the last three months, insiders sold 231,609 shares of company stock valued at $22,736,123. 1.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Barclays raised their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. decreased 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 note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $120.17.

Iron Mountain Stock Down 0.3%

Shares of IRM stock opened at $91.51 on Wednesday. The stock has a market cap of $27.03 billion, a price-to-earnings ratio of 653.67 and a beta of 1.07. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The firm's 50 day moving average price is $97.19 and its two-hundred day moving average price is $93.63.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. Iron Mountain's revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.08 earnings per share. On average, equities analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, September 15th. Iron Mountain's payout ratio is presently 2,242.86%.

About Iron Mountain

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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