8,735 Shares in Iron Mountain Incorporated $IRM Bought by M Holdings Securities Inc.

M Holdings Securities Inc. acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 8,735 shares of the financial services provider’s stock, valued at approximately $1,006,000.

A number of other hedge funds also recently made changes to their positions in IRM. BlackRock Inc. purchased a new stake in Iron Mountain during the 2nd quarter worth $4,240,342,000. Principal Financial Group Inc. boosted its position in Iron Mountain by 8.5% in the 1st quarter. Principal Financial Group Inc. now owns 4,566,093 shares of the financial services provider’s stock valued at $466,382,000 after buying an additional 358,497 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Iron Mountain by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,552,286 shares of the financial services provider’s stock valued at $464,931,000 after buying an additional 122,927 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Iron Mountain during the second quarter valued at about $409,843,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Iron Mountain by 29,674.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,193,560 shares of the financial services provider’s stock valued at $403,379,000 after acquiring an additional 3,182,834 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IRM. Weiss Ratings lowered Iron Mountain from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. The Goldman Sachs Group increased their price target on Iron Mountain from $153.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, October 6th. Truist Financial increased their price target on Iron Mountain from $140.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, August 27th. BNP Paribas Exane raised their price objective on Iron Mountain from $138.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, Rothschild & Co Redburn began coverage on Iron Mountain in a report on Monday, September 21st. They set a “buy” rating and a $132.00 price objective on the stock. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.33.

Insider Transactions at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $115.60, for a total transaction of $693,600.00. Following the sale, the executive vice president directly owned 95,507 shares of the company’s stock, valued at approximately $11,040,609.20. This represents a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Greg W. Mcintosh sold 5,000 shares of Iron Mountain stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $116.96, for a total transaction of $584,800.00. Following the completion of the transaction, the executive vice president directly owned 65,634 shares of the company’s stock, valued at approximately $7,676,552.64. This represents a 7.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 136,422 shares of company stock worth $15,116,038. 1.70% of the stock is currently owned by corporate insiders.

Iron Mountain Trading Up 4.1%

Shares of NYSE:IRM opened at $110.92 on Tuesday. The firm has a market cap of $33.02 billion, a PE ratio of 72.49 and a beta of 1.18. The company has a fifty day simple moving average of $113.62 and a 200 day simple moving average of $115.47. Iron Mountain Incorporated has a 12-month low of $77.77 and a 12-month high of $134.68.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, November 5th. The financial services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.03. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the prior year, the firm posted $1.32 EPS. The firm’s revenue was up 13.5% compared to the same quarter last year. As a group, equities research analysts forecast that Iron Mountain Incorporated will post 5.42 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 6th. Stockholders of record on Tuesday, December 15th will be given a $0.9930 dividend. This represents a $3.97 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, December 15th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.8640. Iron Mountain’s payout ratio is 226.14%.

About Iron Mountain

Iron Mountain Incorporated is an information management and storage company that helps organizations protect, manage and access physical and digital assets. Its services include records storage and management, secure document shredding, digitization and other information-management solutions.

The company also operates data centers and provides services for businesses moving, storing and managing data. Its offerings extend to specialized storage and care for items such as artwork and other valuable collections.

Founded in 1951, Iron Mountain began as a records-storage business in a former iron ore mine in New York.