US Bancorp DE Has $2.65 Million Stock Holdings in Iron Mountain Incorporated $IRM

US Bancorp DE lifted its stake in Iron Mountain Incorporated (NYSE:IRM) by 6.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,791 shares of the financial services provider’s stock after acquiring an additional 1,500 shares during the quarter. US Bancorp DE’s holdings in Iron Mountain were worth $2,645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Iron Mountain by 0.5% in the first quarter. Vanguard Group Inc. now owns 46,825,734 shares of the financial services provider’s stock worth $4,028,886,000 after acquiring an additional 220,564 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Iron Mountain by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,256,417 shares of the financial services provider’s stock worth $366,210,000 after acquiring an additional 37,154 shares during the last quarter. Invesco Ltd. increased its stake in shares of Iron Mountain by 14.7% in the first quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider’s stock worth $245,124,000 after acquiring an additional 366,134 shares during the last quarter. Nuveen LLC acquired a new position in shares of Iron Mountain in the first quarter worth $192,231,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Iron Mountain by 17.8% in the first quarter. JPMorgan Chase & Co. now owns 2,061,560 shares of the financial services provider’s stock worth $177,377,000 after acquiring an additional 311,494 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $103.31 on Wednesday. The company has a market cap of $30.51 billion, a P/E ratio of 738.01 and a beta of 1.06. The stock’s 50-day moving average is $96.79 and its 200-day moving average is $95.68. 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 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. 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 for the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the business posted $1.08 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were given a dividend of $0.785 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a yield of 3.0%. Iron Mountain’s dividend payout ratio (DPR) is 2,242.86%.

Analyst Upgrades and Downgrades

Several research firms have commented on IRM. Jefferies Financial Group began coverage on shares of Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Finally, Barclays increased their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $116.83.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The disclosure for this sale can be found here. Insiders have sold a total of 213,375 shares of company stock valued at $20,347,156 over the last three months. 1.90% of the stock is owned by corporate insiders.

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.