Iron Mountain Incorporated $IRM Shares Purchased by UniSuper Management Pty Ltd

Key Points

• UniSuper Management Pty Ltd increased its holdings in Iron Mountain by 3.7%, owning 113,493 shares valued at approximately $9.77 million at the end of the most recent quarter.
• Brokerages have mixed opinions on Iron Mountain, with Barclays raising the price target to $122.00, while JPMorgan lowered it to $100.00; the stock currently has an average rating of "Buy".
• Iron Mountain reported earnings of $1.24 per share, exceeding analyst expectations, and also announced a quarterly dividend of $0.785, representing an annual yield of 3.4%.

UniSuper Management Pty Ltd grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 3.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,493 shares of the financial services provider's stock after purchasing an additional 4,028 shares during the period. UniSuper Management Pty Ltd's holdings in Iron Mountain were worth $9,765,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IRM. Barclays increased their price target on shares of 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 target price on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $120.17.

Iron Mountain Stock Up 1.1%

Iron Mountain stock opened at $92.12 on Monday. The firm has a market capitalization of $27.21 billion, a PE ratio of 658.05 and a beta of 1.08. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The firm's 50-day simple moving average is $95.38 and its 200 day simple moving average is $93.23.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping 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 net margin of 0.66% and a negative return on equity of 146.80%. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 earnings per share. On average, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a yield of 3.4%. Iron Mountain's dividend payout ratio is presently 2,242.86%.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Greg W. Mcintosh sold 17,334 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was 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 directly owned 35,446 shares of the company's stock, valued at approximately $3,544,600. This trade represents a 32.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 236,709 shares of company stock worth $22,555,809 in the last 90 days. Corporate insiders own 1.90% of the company's stock.

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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