Monument Capital Management Has $672,000 Position in Iron Mountain Incorporated $IRM

Key Points

• Monument Capital Management boosted its stake in Iron Mountain (NYSE:IRM) by 84.5%, now holding 6,554 shares valued at $672,000.
• Iron Mountain reported $1.24 earnings per share for the last quarter, exceeding analysts' estimates, with revenue increasing by 11.6% year-over-year.
• The company announced a quarterly dividend of $0.785, which represents a 3.0% yield, although its dividend payout ratio is significantly high at 2,242.86%.

Monument Capital Management increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 84.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,554 shares of the financial services provider's stock after buying an additional 3,001 shares during the period. Monument Capital Management's holdings in Iron Mountain were worth $672,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC acquired a new position in shares of Iron Mountain during the first quarter worth approximately $26,000. Golden State Wealth Management LLC acquired a new position in shares of Iron Mountain during the first quarter worth approximately $30,000. Ramirez Asset Management Inc. acquired a new position in Iron Mountain during the 1st quarter worth $34,000. Wayfinding Financial LLC acquired a new position in Iron Mountain during the 1st quarter worth $37,000. Finally, Richards Merrill & Peterson Inc. acquired a new position in Iron Mountain during the 1st quarter worth $43,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Trading Down 0.4%

NYSE:IRM opened at $105.00 on Friday. The firm has a market capitalization of $31.01 billion, a price-to-earnings ratio of 750.05 and a beta of 1.06. The business's 50-day moving average price is $96.33 and its two-hundred day moving average price is $95.28. 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 announced its quarterly earnings results 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 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%. Iron Mountain's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company posted $1.08 EPS. Sell-side analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were issued a $0.785 dividend. The ex-dividend date was Monday, September 15th. This represents a $3.14 annualized dividend and a yield of 3.0%. Iron Mountain's dividend payout ratio (DPR) is 2,242.86%.

Analyst Ratings Changes

Several brokerages have recently issued reports on IRM. Jefferies Financial Group began coverage on Iron Mountain in a research note on Monday, September 22nd. They set a "buy" rating and a $120.00 price target on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Iron Mountain in a research note on Wednesday. Barclays upped their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. cut their target price on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Iron Mountain has a consensus rating of "Buy" and an average target price of $116.83.

Insider Buying and Selling

In other news, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total transaction of $546,300.00. Following the sale, the executive vice president owned 79,081 shares of the company's stock, 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 document filed with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total value of $7,074,252.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 213,375 shares of company stock valued at $20,347,156. 1.90% of the stock is owned by company insiders.

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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