Iron Mountain Incorporated $IRM is Vert Asset Management LLC's 8th Largest Position

Key Points

• Vert Asset Management LLC reduced its position in Iron Mountain by 4.8%, now holding 129,482 shares, making it the firm's 8th largest investment.
• CEO William L. Meaney sold a total of 144,250 shares worth over $13 million in the last quarter.
• Iron Mountain's recent quarterly earnings exceeded expectations, with earnings per share of $1.24 compared to the consensus estimate of $1.19.

Vert Asset Management LLC reduced its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,482 shares of the financial services provider's stock after selling 6,564 shares during the period. Iron Mountain comprises 4.8% of Vert Asset Management LLC's investment portfolio, making the stock its 8th biggest position. Vert Asset Management LLC's holdings in Iron Mountain were worth $13,281,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Cranbrook Wealth Management LLC purchased a new position in Iron Mountain in the 1st quarter valued at approximately $26,000. Financial Network Wealth Advisors LLC purchased a new position in Iron Mountain in the 1st quarter valued at approximately $26,000. Golden State Wealth Management LLC purchased a new position in Iron Mountain in the 1st quarter valued at approximately $30,000. Ramirez Asset Management Inc. purchased a new position in Iron Mountain in the 1st quarter valued at approximately $34,000. Finally, Wayfinding Financial LLC purchased a new position in Iron Mountain during the first quarter worth $37,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $89.56, for a total transaction of $6,190,835.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Friday, August 1st. The shares were sold at an average price of $94.55, for a total value of $6,535,768.75. The disclosure for this sale can be found here. Insiders have sold 144,250 shares of company stock worth $13,272,904 over the last quarter. 1.90% of the stock is currently owned by insiders.

Iron Mountain Stock Up 0.4%

IRM stock opened at $102.32 on Thursday. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The stock's fifty day simple moving average is $95.52 and its 200-day simple moving average is $94.59. The stock has a market capitalization of $30.22 billion, a price-to-earnings ratio of 730.89 and a beta of 1.06.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter last year, the firm earned $1.08 earnings per share. The business's revenue was up 11.6% on a year-over-year basis. As a group, analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be issued a dividend of $0.785 per share. The ex-dividend date is Monday, September 15th. This represents a $3.14 annualized dividend and a dividend yield of 3.1%. Iron Mountain's dividend payout ratio (DPR) is 2,242.86%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Barclays raised their price target on Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. Finally, Jefferies Financial Group assumed coverage on Iron Mountain in a research report on Monday, September 22nd. They set a "buy" rating and a $120.00 price target for the company. One 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, Iron Mountain currently has a consensus rating of "Buy" and a consensus price target of $116.83.

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.

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