HighTower Advisors LLC Grows Stock Position in Iron Mountain Incorporated $IRM

HighTower Advisors LLC raised its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 76.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 109,124 shares of the financial services provider's stock after acquiring an additional 47,380 shares during the quarter. HighTower Advisors LLC's holdings in Iron Mountain were worth $9,389,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new stake in Iron Mountain during the 1st quarter valued at $192,231,000. Northern Trust Corp boosted its stake in shares of Iron Mountain by 56.1% during the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock valued at $454,756,000 after buying an additional 1,554,746 shares during the period. Point72 Asset Management L.P. raised its position in shares of Iron Mountain by 439.8% in the fourth quarter. Point72 Asset Management L.P. now owns 1,200,660 shares of the financial services provider's stock valued at $126,201,000 after purchasing an additional 978,251 shares during the period. Nuveen Asset Management LLC raised its position in shares of Iron Mountain by 39.0% in the fourth quarter. Nuveen Asset Management LLC now owns 2,548,970 shares of the financial services provider's stock valued at $267,922,000 after purchasing an additional 715,024 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Iron Mountain by 117.7% in the first quarter. Principal Financial Group Inc. now owns 904,184 shares of the financial services provider's stock valued at $77,796,000 after acquiring an additional 488,816 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on IRM. Barclays raised their target price on Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on 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. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $120.17.

Insider Activity at Iron Mountain

In other news, EVP Greg W. Mcintosh sold 17,334 shares of the business'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 sale, the executive vice president directly owned 35,446 shares of the company's stock, valued at approximately $3,544,600. The trade was a 32.84% 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 that occurred on Friday, August 1st. The shares were sold at an average price of $94.55, for a total transaction of $6,535,768.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 240,007 shares of company stock worth $23,543,507. Company insiders own 1.90% of the company's stock.

Iron Mountain Price Performance

NYSE IRM traded down $0.2740 on Wednesday, reaching $91.2860. 1,212,615 shares of the company's stock traded hands, compared to its average volume of 1,833,290. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The stock has a 50-day simple moving average of $98.21 and a 200 day simple moving average of $94.04. The stock has a market cap of $26.96 billion, a PE ratio of 652.09 and a beta of 1.07.

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 the consensus estimate of $1.19 by $0.05. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate 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 revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 earnings per share. As a group, analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

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