Vanguard Personalized Indexing Management LLC Buys 12,842 Shares of Iron Mountain Incorporated $IRM

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Iron Mountain by 51.1% during the 2nd quarter, now holding 37,986 shares valued at approximately $3.9 million.
• Several institutional investors, including Nuveen LLC and Goldman Sachs Group Inc., have also significantly increased their positions in Iron Mountain, reflecting growing confidence in the company's prospects.
• Iron Mountain recently announced a quarterly dividend of $0.785 per share, with a yield of 3.0%, affirming its commitment to returning value to shareholders.

Vanguard Personalized Indexing Management LLC grew its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 51.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,986 shares of the financial services provider's stock after purchasing an additional 12,842 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Iron Mountain were worth $3,902,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Nuveen LLC purchased a new position in Iron Mountain during the 1st quarter valued at $192,231,000. Contour Asset Management LLC purchased a new stake in shares of Iron Mountain during the 1st quarter worth $122,801,000. Goldman Sachs Group Inc. increased its position in Iron Mountain by 86.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider's stock valued at $169,922,000 after buying an additional 913,715 shares in the last quarter. Principal Financial Group Inc. increased its position in Iron Mountain by 117.7% during the 1st quarter. Principal Financial Group Inc. now owns 904,184 shares of the financial services provider's stock valued at $77,796,000 after buying an additional 488,816 shares in the last quarter. Finally, Invesco Ltd. increased its position in Iron Mountain by 14.7% during the 1st quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider's stock valued at $245,124,000 after buying an additional 366,134 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on IRM shares. JPMorgan Chase & Co. cut their price objective on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Jefferies Financial Group started coverage on Iron Mountain in a report on Monday, September 22nd. They issued a "buy" rating and a $120.00 price objective on the stock. Barclays increased their price objective on Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Iron Mountain in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $116.83.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total transaction of $546,300.00. Following the transaction, the executive vice president owned 79,081 shares in the company, valued at approximately $7,200,325.05. This represents a 7.05% decrease in their ownership of the stock. 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 that occurred on 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. Over the last 90 days, insiders have sold 213,375 shares of company stock worth $20,347,156. 1.90% of the stock is owned by corporate insiders.

Iron Mountain Stock Up 1.1%

Shares of IRM opened at $103.31 on Wednesday. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The company has a market capitalization of $30.51 billion, a price-to-earnings ratio of 738.01 and a beta of 1.06. The stock's 50-day moving average price is $96.79 and its 200-day moving average price is $95.68.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS 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 negative return on equity of 146.80% and a net margin of 0.66%.The company's revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 earnings per share. As a group, 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 declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were given a dividend of $0.785 per share. The ex-dividend date was Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a yield of 3.0%. Iron Mountain's dividend payout ratio is currently 2,242.86%.

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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