Chevy Chase Trust Holdings LLC Increases Holdings in Iron Mountain Incorporated $IRM

Chevy Chase Trust Holdings LLC lifted its position in Iron Mountain Incorporated (NYSE:IRM) by 1.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 155,840 shares of the financial services provider’s stock after purchasing an additional 1,787 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Iron Mountain were worth $15,985,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Whittier Trust Co. boosted its holdings in shares of Iron Mountain by 3.4% in the first quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 108 shares during the period. 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 valued at $324,000 after purchasing an additional 113 shares during the period. 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 valued at $285,000 after purchasing an additional 118 shares during the period. Diversify Advisory Services LLC raised its stake in 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 in the last quarter. Finally, NorthRock Partners LLC boosted its position in Iron Mountain by 2.6% during the 1st quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider’s stock valued at $440,000 after acquiring an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IRM. JPMorgan Chase & Co. dropped their target price on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Barclays increased their target price on Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Jefferies Financial Group began coverage on 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 reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Finally, Zacks Research cut Iron Mountain from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.83.

Iron Mountain Trading Down 1.1%

Shares of IRM opened at $104.60 on Friday. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The stock has a fifty day moving average price of $97.67 and a 200-day moving average price of $96.06. The firm has a market cap of $30.89 billion, a PE ratio of 747.20 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 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 firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the business posted $1.08 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts forecast 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 paid a $0.785 dividend. The ex-dividend date 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%.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the firm’s 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 owned 79,081 shares of the company’s stock, valued at $7,200,325.05. This trade represents a 7.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 213,375 shares of company stock worth $20,347,156 in the last 90 days. Insiders own 1.90% of the company’s stock.

Iron Mountain Company 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.