Beverly Hills Private Wealth LLC Has $437,000 Position in Iron Mountain Incorporated $IRM

Beverly Hills Private Wealth LLC trimmed its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 12.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,265 shares of the financial services provider’s stock after selling 622 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Iron Mountain were worth $437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in IRM. Nuveen LLC bought a new position in shares of Iron Mountain during the first quarter worth about $192,231,000. Contour Asset Management LLC bought a new position in shares of Iron Mountain during the first quarter worth about $122,801,000. Goldman Sachs Group Inc. raised its position in shares of Iron Mountain by 86.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock worth $169,922,000 after acquiring an additional 913,715 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Iron Mountain by 117.7% during the first quarter. Principal Financial Group Inc. now owns 904,184 shares of the financial services provider’s stock worth $77,796,000 after acquiring an additional 488,816 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Iron Mountain by 14.7% during 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. 80.13% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total value of $7,074,252.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred 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. Insiders have sold 213,375 shares of company stock worth $20,347,156 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $105.74 on Tuesday. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The stock has a 50 day moving average price of $97.99 and a two-hundred day moving average price of $96.35. The stock has a market capitalization of $31.23 billion, a PE ratio of 755.34 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 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the firm posted $1.08 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Zacks Research cut Iron Mountain from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Jefferies Financial Group initiated coverage on Iron Mountain in a research note on Monday, September 22nd. They set a “buy” rating and a $120.00 target price for the company. Barclays raised their target price on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.83.

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.