Trivium Point Advisory LLC Takes Position in Iron Mountain Incorporated $IRM

Key Points

• Trivium Point Advisory LLC acquired a new stake in Iron Mountain, purchasing 7,048 shares valued at approximately $723,000 during the second quarter.
• The CEO, William L. Meaney, sold a total of 144,250 shares of the company stock in recent transactions valued at over $13 million.
• Iron Mountain announced a quarterly dividend of $0.785 per share, reflecting a dividend yield of 3.1% and a high payout ratio of 2,242.86%.

Trivium Point Advisory LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 7,048 shares of the financial services provider's stock, valued at approximately $723,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Iron Mountain by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 46,825,734 shares of the financial services provider's stock valued at $4,028,886,000 after acquiring an additional 220,564 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Iron Mountain by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,256,417 shares of the financial services provider's stock worth $366,210,000 after buying an additional 37,154 shares during the period. Invesco Ltd. boosted its holdings in shares of Iron Mountain by 14.7% during the 1st quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider's stock worth $245,124,000 after buying an additional 366,134 shares during the period. Nuveen LLC bought a new stake in shares of Iron Mountain during the 1st quarter worth about $192,231,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Iron Mountain by 17.8% during the 1st quarter. JPMorgan Chase & Co. now owns 2,061,560 shares of the financial services provider's stock worth $177,377,000 after buying an additional 311,494 shares during the period. Institutional investors own 80.13% of the company's stock.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $94.55, for a total transaction of $6,535,768.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 144,250 shares of company stock valued at $13,272,904. Company insiders own 1.90% of the company's stock.

Iron Mountain Stock Up 1.6%

NYSE IRM opened at $101.96 on Wednesday. The company has a market capitalization of $30.11 billion, a P/E ratio of 728.34 and a beta of 1.08. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The firm has a 50-day moving average price of $95.46 and a two-hundred day moving average price of $94.54.

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, beating analysts' consensus estimates of $1.19 by $0.05. The firm had revenue of $1.68 billion during 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 business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.08 EPS. Equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The company also recently declared 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. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. Iron Mountain's dividend payout ratio is 2,242.86%.

Analyst Ratings Changes

IRM has been the subject of several research analyst reports. Barclays lifted their target price 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. reduced 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. Finally, Jefferies Financial Group initiated coverage on shares of Iron Mountain in a report on Monday, September 22nd. They set a "buy" rating and a $120.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price 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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