International Assets Investment Management LLC Raises Stock Holdings in Iron Mountain Incorporated $IRM

International Assets Investment Management LLC boosted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 9.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 4,166 shares of the financial services provider’s stock after acquiring an additional 375 shares during the period. International Assets Investment Management LLC’s holdings in Iron Mountain were worth $427,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Whittier Trust Co. raised its position in Iron Mountain by 3.4% in the 1st quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider’s stock worth $281,000 after buying an additional 108 shares during the last quarter. Cooper Financial Group boosted its holdings in shares of Iron Mountain by 3.7% in the second quarter. Cooper Financial Group now owns 3,155 shares of the financial services provider’s stock worth $324,000 after buying an additional 113 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in shares of Iron Mountain by 3.7% in the first quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider’s stock worth $285,000 after buying an additional 118 shares during the last quarter. Diversify Advisory Services LLC boosted its holdings in shares of Iron Mountain by 1.9% in the first quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider’s stock worth $572,000 after buying an additional 123 shares during the last quarter. Finally, NorthRock Partners LLC boosted its holdings in shares of Iron Mountain by 2.6% in the first quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider’s stock worth $440,000 after buying an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM opened at $103.90 on Thursday. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The company has a 50 day simple moving average of $98.43 and a two-hundred day simple moving average of $96.46. The firm has a market cap of $30.69 billion, a P/E ratio of 742.18 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period last year, the firm posted $1.08 EPS. The company’s revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

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

Analyst Ratings Changes

IRM has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on shares of Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday. 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 report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and an average target price of $116.83.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total transaction of $7,074,252.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total value of $546,300.00. Following the transaction, the executive vice president owned 79,081 shares of the company’s stock, valued at $7,200,325.05. This represents a 7.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 213,375 shares of company stock valued at $20,347,156 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

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.