CHB Investment Group LLC Grows Holdings in Iron Mountain Incorporated (NYSE:IRM)

CHB Investment Group LLC raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,175 shares of the financial services provider’s stock after buying an additional 357 shares during the quarter. CHB Investment Group LLC’s holdings in Iron Mountain were worth $2,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Dynamic Advisor Solutions LLC grew its holdings in Iron Mountain by 25.2% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,075 shares of the financial services provider’s stock valued at $265,000 after buying an additional 619 shares in the last quarter. American Institute for Advanced Investment Management LLP grew its holdings in Iron Mountain by 6.6% during the 1st quarter. American Institute for Advanced Investment Management LLP now owns 10,870 shares of the financial services provider’s stock valued at $935,000 after buying an additional 670 shares in the last quarter. Foresight Capital Management Advisors Inc. grew its holdings in Iron Mountain by 1.0% during the 1st quarter. Foresight Capital Management Advisors Inc. now owns 88,185 shares of the financial services provider’s stock valued at $7,587,000 after buying an additional 882 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Iron Mountain by 3.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 11,538 shares of the financial services provider’s stock valued at $993,000 after buying an additional 388 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Iron Mountain by 1,116.0% during the 1st quarter. SG Americas Securities LLC now owns 60,265 shares of the financial services provider’s stock valued at $5,185,000 after buying an additional 55,309 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Down 1.0%

Shares of IRM opened at $101.50 on Monday. The company has a market cap of $29.95 billion, a PE ratio of 166.39, a P/E/G ratio of 5.15 and a beta of 1.09. The business has a fifty day moving average of $93.42 and a 200 day moving average of $97.25. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.01. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the company earned $1.10 earnings per share. Iron Mountain’s revenue was up 7.9% on a year-over-year basis. As a group, research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Monday, June 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 765.85%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IRM shares. Wall Street Zen raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday, April 18th. Truist Financial began coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 target price for the company. JPMorgan Chase & Co. cut their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Finally, Barclays raised their target price on shares of Iron Mountain from $118.00 to $121.00 and gave the company an “overweight” rating in a report on Tuesday, May 27th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Iron Mountain has an average rating of “Buy” and an average price target of $121.71.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $96.09, for a total transaction of $6,642,221.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Walter C. Rakowich sold 900 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the transaction, the director now directly owns 36,515 shares in the company, valued at $3,650,404.55. This trade represents a 2.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 216,673 shares of company stock valued at $20,319,408. Corporate 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.