Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Invesco Ltd.

Key Points

• Invesco Ltd. increased its holdings in Iron Mountain by 14.7% in the 1st quarter, owning approximately 2,848,954 shares, valued at $245,124,000.
• Iron Mountain's stock price has seen a 2.9% increase, opening at $92.18, with a 52-week range between $72.33 and $130.24.
• The company announced a quarterly dividend of $0.785 per share, with an annualized yield of 3.4% and a significant dividend payout ratio currently at 2,242.86%.

Invesco Ltd. grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 14.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,848,954 shares of the financial services provider's stock after purchasing an additional 366,134 shares during the period. Invesco Ltd. owned approximately 0.97% of Iron Mountain worth $245,124,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IRM. Scotia Capital Inc. lifted its holdings in shares of Iron Mountain by 2.8% during the 4th quarter. Scotia Capital Inc. now owns 4,618 shares of the financial services provider's stock valued at $486,000 after purchasing an additional 126 shares during the last quarter. Sterling Capital Management LLC raised its stake in Iron Mountain by 29.5% in the 4th quarter. Sterling Capital Management LLC now owns 10,091 shares of the financial services provider's stock worth $1,061,000 after acquiring an additional 2,296 shares during the last quarter. Townsquare Capital LLC raised its stake in Iron Mountain by 2.0% in the 4th quarter. Townsquare Capital LLC now owns 10,331 shares of the financial services provider's stock worth $1,086,000 after acquiring an additional 202 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new position in Iron Mountain in the 4th quarter worth $219,000. Finally, Savvy Advisors Inc. raised its stake in Iron Mountain by 43.5% in the 4th quarter. Savvy Advisors Inc. now owns 2,527 shares of the financial services provider's stock worth $266,000 after acquiring an additional 766 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Insider Buying and Selling

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total transaction of $612,120.00. Following the completion of the transaction, the executive vice president owned 91,081 shares in the company, valued at approximately $9,292,083.62. This trade represents a 6.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total value of $6,937,385.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 240,007 shares of company stock worth $23,543,507. Corporate insiders own 1.90% of the company's stock.

Iron Mountain Trading Up 0.1%

Shares of NYSE IRM traded up $0.07 during trading on Friday, reaching $91.47. 1,159,811 shares of the company traded hands, compared to its average volume of 1,454,023. The firm's fifty day simple moving average is $98.61 and its 200 day simple moving average is $94.19. The stock has a market cap of $27.02 billion, a P/E ratio of 653.40 and a beta of 1.07. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24.

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 business 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 company's revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. As a group, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on IRM shares. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Barclays raised their target price on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $120.00.

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.