MBB Public Markets I LLC Buys Shares of 3,604 Iron Mountain Incorporated $IRM

Key Points

• MBB Public Markets I LLC acquired 3,604 shares of Iron Mountain Incorporated, totaling approximately $310,000, marking a significant investment in the financial services provider.
• Institutional investors currently own 80.13% of Iron Mountain's stock, indicating strong institutional interest in the company.
• Iron Mountain recently announced a quarterly dividend of $0.785, representing a 3.2% dividend yield on an annualized basis.

MBB Public Markets I LLC bought a new stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,604 shares of the financial services provider's stock, valued at approximately $310,000.

Other hedge funds have also bought and sold shares of the company. Kestra Private Wealth Services LLC lifted its position in Iron Mountain by 14.7% during the first quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider's stock valued at $1,251,000 after purchasing an additional 1,860 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in Iron Mountain during the first quarter valued at approximately $30,000. Steward Partners Investment Advisory LLC lifted its position in Iron Mountain by 1.4% during the first quarter. Steward Partners Investment Advisory LLC now owns 38,032 shares of the financial services provider's stock valued at $3,272,000 after purchasing an additional 513 shares during the last quarter. Inspire Trust Co. N.A. lifted its position in Iron Mountain by 21.4% during the first quarter. Inspire Trust Co. N.A. now owns 17,000 shares of the financial services provider's stock valued at $1,463,000 after purchasing an additional 3,000 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in Iron Mountain by 76.7% during the first quarter. HighTower Advisors LLC now owns 109,124 shares of the financial services provider's stock valued at $9,389,000 after purchasing an additional 47,380 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total transaction of $546,300.00. Following the sale, the executive vice president directly owned 79,081 shares of the company's stock, valued at approximately $7,200,325.05. This represents a 7.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated 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. Insiders sold 236,709 shares of company stock valued at $22,555,809 over the last 90 days. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on IRM shares. Barclays boosted their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. lowered their price objective 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 issued a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $120.17.

Iron Mountain Price Performance

NYSE:IRM opened at $97.57 on Thursday. The firm's 50-day moving average price is $95.07 and its 200-day moving average price is $93.29. The company has a market capitalization of $28.82 billion, a PE ratio of 696.99 and a beta of 1.08. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24.

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

Iron Mountain Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.2%. Iron Mountain's dividend 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.

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