Dimensional Fund Advisors LP Grows Stake in Iron Mountain Incorporated (NYSE:IRM)

Dimensional Fund Advisors LP grew its holdings in Iron Mountain Incorporated (NYSE:IRM) by 0.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 4,256,417 shares of the financial services provider’s stock after buying an additional 37,154 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.44% of Iron Mountain worth $366,210,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in 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 worth $4,028,886,000 after buying an additional 220,564 shares during the period. Northern Trust Corp lifted its holdings in Iron Mountain by 56.1% in the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider’s stock worth $454,756,000 after buying an additional 1,554,746 shares during the period. Invesco Ltd. lifted its holdings in Iron Mountain by 14.7% in 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 Asset Management LLC lifted its holdings in Iron Mountain by 39.0% in the 4th quarter. Nuveen Asset Management LLC now owns 2,548,970 shares of the financial services provider’s stock worth $267,922,000 after buying an additional 715,024 shares during the period. Finally, Nuveen LLC purchased a new stake in Iron Mountain in the 1st quarter worth approximately $192,231,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays increased their price objective on Iron Mountain from $118.00 to $121.00 and gave the stock an “overweight” rating in a report on Tuesday, May 27th. JPMorgan Chase & Co. lowered their target price on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain has a consensus rating of “Buy” and an average target price of $120.00.

Insider Buying and Selling

In related news, Director Walter C. Rakowich sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total transaction of $89,973.00. Following the completion of the transaction, the director owned 36,515 shares of the company’s stock, valued at $3,650,404.55. This trade represents a 2.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total value of $6,937,385.00. The disclosure for this sale can be found here. Insiders sold 240,007 shares of company stock worth $23,543,507 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Iron Mountain Stock Up 0.1%

IRM opened at $91.47 on Friday. The stock has a market cap of $27.02 billion, a PE ratio of 653.40 and a beta of 1.07. The business has a 50 day moving average of $98.61 and a 200-day moving average of $94.23. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data 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. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the company earned $1.08 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be given 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 of this dividend is Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is 2,242.86%.

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.