Kozak & Associates Inc. Takes Position in Iron Mountain Incorporated $IRM

Kozak & Associates Inc. bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,000 shares of the financial services provider’s stock, valued at approximately $99,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Moody National Bank Trust Division grew its position in Iron Mountain by 6.2% during the 2nd quarter. Moody National Bank Trust Division now owns 25,424 shares of the financial services provider’s stock worth $2,608,000 after purchasing an additional 1,474 shares during the period. NorthCrest Asset Manangement LLC acquired a new stake in Iron Mountain during the second quarter worth about $285,000. Wealth Enhancement Advisory Services LLC grew its holdings in Iron Mountain by 2.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 50,250 shares of the financial services provider’s stock worth $5,059,000 after acquiring an additional 1,164 shares during the period. Swedbank AB raised its position in Iron Mountain by 4.0% during the second quarter. Swedbank AB now owns 315,060 shares of the financial services provider’s stock valued at $32,316,000 after acquiring an additional 12,030 shares in the last quarter. Finally, Secure Asset Management LLC acquired a new position in Iron Mountain in the second quarter valued at approximately $476,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Down 0.5%

Shares of NYSE IRM opened at $98.99 on Friday. The firm has a market cap of $29.24 billion, a price-to-earnings ratio of 707.09 and a beta of 1.08. The company’s 50-day simple moving average is $94.94 and its 200-day simple moving average is $93.58. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be given a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is 2,242.86%.

Insider Transactions at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total value of $546,300.00. Following the completion of the transaction, the executive vice president directly owned 79,081 shares of the company’s stock, valued at approximately $7,200,325.05. This represents a 7.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $94.55, for a total value of $6,535,768.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 236,709 shares of company stock valued at $22,555,809. Insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Barclays raised their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat, the stock 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.