Integrity Alliance LLC. Makes New Investment in Iron Mountain Incorporated $IRM

Key Points

• Integrity Alliance LLC has acquired a new stake in Iron Mountain Incorporated, purchasing approximately $564,000 worth of shares in the first quarter.
• Iron Mountain's stock has seen significant interest from institutional investors, with over 80% of the shares owned by such entities, including a new investment from Nuveen LLC valued at about $192 million.
• The company reported an earnings per share of $1.24 for its latest quarter, exceeding analyst expectations, along with a declared quarterly dividend of $0.785 per share.

Integrity Alliance LLC. purchased a new stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,559 shares of the financial services provider's stock, valued at approximately $564,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Nuveen LLC bought a new position in Iron Mountain in the first quarter worth $192,231,000. Contour Asset Management LLC bought a new position in Iron Mountain in the first quarter worth $122,801,000. Goldman Sachs Group Inc. raised its holdings in Iron Mountain by 86.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider's stock worth $169,922,000 after purchasing an additional 913,715 shares in the last quarter. Principal Financial Group Inc. raised its holdings in 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 worth $77,796,000 after purchasing an additional 488,816 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Iron Mountain in the fourth quarter worth $39,687,000. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Price Performance

Iron Mountain stock traded down $0.13 during midday trading on Thursday, reaching $99.35. The company's stock had a trading volume of 322,690 shares, compared to its average volume of 1,779,734. The stock's 50-day simple moving average is $94.94 and its 200-day simple moving average is $93.52. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The stock has a market capitalization of $29.34 billion, a P/E ratio of 709.56 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.68 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The firm's revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $1.08 earnings per share. As a group, equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share 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 $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, September 15th. Iron Mountain's dividend payout ratio (DPR) is 2,242.86%.

Wall Street Analysts Forecast Growth

IRM has been the subject of several analyst reports. Barclays raised their price target on 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. dropped their price target on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a report 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $120.17.

Insider Transactions at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total value of $546,300.00. Following the transaction, the executive vice president owned 79,081 shares in the company, valued at $7,200,325.05. This trade represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Greg W. Mcintosh sold 17,334 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total value of $1,733,400.00. Following the completion of the transaction, the executive vice president owned 35,446 shares in the company, valued at approximately $3,544,600. This trade represents a 32.84% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 236,709 shares of company stock worth $22,555,809. 1.90% of the stock is owned by insiders.

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.