Vident Advisory LLC Acquires 4,887 Shares of Iron Mountain Incorporated $IRM

Key Points

• Vident Advisory LLC increased its stake in Iron Mountain by 113.3%, acquiring an additional 4,887 shares, bringing its total ownership to 9,201 shares valued at approximately $792,000.
• Iron Mountain recently announced a quarterly dividend of $0.785 per share, yielding 3.4%, to be paid on October 3rd to stockholders of record by September 15th.
• Analyst ratings show a consensus “Buy” rating for Iron Mountain, with Barclays raising the price target from $121 to $122, while JPMorgan Chase & Co. lowered their target from $112 to $100.

Vident Advisory LLC lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 113.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,201 shares of the financial services provider's stock after buying an additional 4,887 shares during the quarter. Vident Advisory LLC's holdings in Iron Mountain were worth $792,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of IRM. Kestra Private Wealth Services LLC grew its holdings in Iron Mountain by 14.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider's stock worth $1,251,000 after acquiring an additional 1,860 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Iron Mountain in the 1st quarter worth $30,000. Steward Partners Investment Advisory LLC grew its stake in shares of 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 worth $3,272,000 after purchasing an additional 513 shares during the period. Inspire Trust Co. N.A. increased its holdings in Iron Mountain by 21.4% in 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 stake in Iron Mountain by 76.7% in the first quarter. HighTower Advisors LLC now owns 109,124 shares of the financial services provider's stock valued at $9,389,000 after buying an additional 47,380 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Trading Up 0.2%

Shares of Iron Mountain stock traded up $0.14 during trading on Monday, hitting $92.32. 1,572,599 shares of the stock were exchanged, compared to its average volume of 1,790,235. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The company has a fifty day moving average price of $95.38 and a 200-day moving average price of $93.23. The stock has a market capitalization of $27.27 billion, a price-to-earnings ratio of 659.49 and a beta of 1.08.

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 (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.05. The business had revenue of $1.68 billion during 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 quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 EPS. Equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, September 15th. Iron Mountain's dividend payout ratio is presently 2,242.86%.

Analysts Set New Price Targets

IRM has been the subject of a number of recent analyst reports. Barclays upped their price target on Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. decreased 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 research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $120.17.

Insider Activity

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total transaction of $546,300.00. Following the completion of the transaction, the executive vice president directly owned 79,081 shares in the company, valued at $7,200,325.05. The trade was a 7.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Greg W. Mcintosh sold 17,334 shares of the company'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 sale, the executive vice president owned 35,446 shares of the company's stock, valued at $3,544,600. The trade was a 32.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 236,709 shares of company stock worth $22,555,809. 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.