Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Cynosure Group LLC

Cynosure Group LLC raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 34.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,853 shares of the financial services provider’s stock after purchasing an additional 989 shares during the period. Cynosure Group LLC’s holdings in Iron Mountain were worth $332,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Iron Mountain by 0.5% during 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 purchasing an additional 220,564 shares during the last quarter. Northern Trust Corp increased its position in Iron Mountain by 56.1% during the fourth quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider’s stock worth $454,756,000 after purchasing an additional 1,554,746 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Iron Mountain by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider’s stock worth $443,476,000 after acquiring an additional 15,097 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Iron Mountain by 39.0% in the fourth quarter. Nuveen Asset Management LLC now owns 2,548,970 shares of the financial services provider’s stock worth $267,922,000 after acquiring an additional 715,024 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its position in shares of Iron Mountain by 17.7% in the first quarter. Centersquare Investment Management LLC now owns 2,008,437 shares of the financial services provider’s stock worth $172,806,000 after acquiring an additional 302,185 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total transaction of $6,937,385.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Walter C. Rakowich sold 900 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the transaction, the director owned 36,515 shares in the company, valued at $3,650,404.55. This trade represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 240,007 shares of company stock valued at $23,543,507. 1.90% of the stock is owned by insiders.

Iron Mountain Trading Down 1.8%

IRM opened at $90.22 on Monday. The company has a fifty day simple moving average of $99.49 and a 200 day simple moving average of $94.53. The firm has a market cap of $26.65 billion, a price-to-earnings ratio of 644.47 and a beta of 1.07. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $1.08 EPS. On average, analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, September 15th. Iron Mountain’s dividend payout ratio is 2,242.86%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IRM. JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday. Barclays increased their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. Finally, Wall Street Zen raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $120.00.

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.