Iron Mountain Incorporated $IRM Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 17.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 32,029 shares of the financial services provider’s stock after selling 6,579 shares during the quarter. Rafferty Asset Management LLC’s holdings in Iron Mountain were worth $2,756,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of IRM. Susquehanna Fundamental Investments LLC acquired a new position in Iron Mountain in the 4th quarter valued at $707,000. Boothbay Fund Management LLC purchased a new stake in shares of Iron Mountain in the fourth quarter valued at $263,000. AQR Capital Management LLC increased its stake in Iron Mountain by 24.5% in the fourth quarter. AQR Capital Management LLC now owns 203,864 shares of the financial services provider’s stock valued at $21,235,000 after purchasing an additional 40,162 shares during the last quarter. Freestone Grove Partners LP purchased a new position in Iron Mountain during the fourth quarter worth about $519,000. Finally, Mercer Global Advisors Inc. ADV boosted its stake in Iron Mountain by 37.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 86,955 shares of the financial services provider’s stock worth $9,140,000 after buying an additional 23,609 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Price Performance

NYSE IRM opened at $92.28 on Friday. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The firm has a market capitalization of $27.26 billion, a P/E ratio of 659.20 and a beta of 1.07. The business’s 50-day simple moving average is $96.58 and its 200-day simple moving average is $93.42.

Iron Mountain (NYSE:IRM) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping 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 company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.08 EPS. On average, equities research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

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

Insider Buying and Selling at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total value of $612,120.00. Following the completion of the sale, the executive vice president owned 91,081 shares in the company, valued at approximately $9,292,083.62. This trade represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Walter C. Rakowich sold 900 shares of the business’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 value of $89,973.00. Following the transaction, the director directly owned 36,515 shares in the company, valued at $3,650,404.55. This trade represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 231,609 shares of company stock valued at $22,736,123 in the last quarter. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

IRM has been the subject of a number of research analyst reports. Barclays upped their price objective on shares of 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. dropped their price target on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain currently has an average rating of “Buy” and a consensus target price of $120.17.

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.