EntryPoint Capital LLC Makes New $457,000 Investment in Iron Mountain Incorporated $IRM

Key Points

• EntryPoint Capital LLC invested approximately $457,000 in Iron Mountain Incorporated, acquiring 5,311 shares during the 1st quarter.
• Iron Mountain's most recent earnings report showed an EPS of $1.24, exceeding expectations, with a revenue of $1.68 billion for the quarter.
• The company declared a quarterly dividend of $0.785 per share, with a dividend yield of 3.4% and a high payout ratio of 2,242.86%.

EntryPoint Capital LLC bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,311 shares of the financial services provider's stock, valued at approximately $457,000.

Other large investors also recently bought and sold shares of the company. Cranbrook Wealth Management LLC acquired a new stake in Iron Mountain during the 1st quarter valued at approximately $26,000. Financial Network Wealth Advisors LLC acquired a new stake in Iron Mountain during the 1st quarter valued at approximately $26,000. Golden State Wealth Management LLC acquired a new stake in Iron Mountain during the 1st quarter valued at approximately $30,000. Ramirez Asset Management Inc. acquired a new stake in Iron Mountain during the 1st quarter valued at approximately $34,000. Finally, Wayfinding Financial LLC acquired a new stake in Iron Mountain during the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Price Performance

IRM opened at $91.2860 on Thursday. The firm has a fifty day moving average price of $98.02 and a 200 day moving average price of $94.02. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The stock has a market cap of $26.96 billion, a P/E ratio of 652.09 and a beta of 1.07.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the previous year, the business posted $1.08 EPS. The business's revenue was up 11.6% compared to the same quarter last year. Equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The company also recently announced 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. This represents a $3.14 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, September 15th. Iron Mountain's payout ratio is currently 2,242.86%.

Wall Street Analyst Weigh In

IRM has been the subject of several research reports. Barclays lifted their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a research note on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of 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 investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. According to MarketBeat.com, Iron Mountain currently has a consensus rating of "Buy" and an average price target of $120.17.

Insider Activity

In other Iron Mountain news, EVP Greg W. Mcintosh sold 17,334 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the completion of the transaction, the executive vice president directly owned 35,446 shares in the company, valued at approximately $3,544,600. This represents a 32.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Walter C. Rakowich sold 900 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total transaction of $89,973.00. Following the transaction, the director owned 36,515 shares of the company's stock, valued at $3,650,404.55. This represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 231,609 shares of company stock valued at $22,736,123. 1.90% of the stock is currently owned by company 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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