Smith Asset Management Co. LLC Acquires Shares of 6,655 Iron Mountain Incorporated $IRM

Smith Asset Management Co. LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 6,655 shares of the financial services provider’s stock, valued at approximately $573,000.

Several other institutional investors also recently bought and sold shares of the company. Woodline Partners LP increased its stake in Iron Mountain by 41.0% in the 1st quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider’s stock valued at $2,129,000 after buying an additional 7,193 shares during the period. Empowered Funds LLC increased its stake in Iron Mountain by 10.3% in the 1st quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider’s stock valued at $493,000 after buying an additional 537 shares during the period. MBB Public Markets I LLC acquired a new position in shares of Iron Mountain during the 1st quarter worth $310,000. United Services Automobile Association acquired a new position in shares of Iron Mountain during the 1st quarter worth $622,000. Finally, Aristeia Capital L.L.C. grew its stake in shares of Iron Mountain by 24.4% during the 1st quarter. Aristeia Capital L.L.C. now owns 3,640 shares of the financial services provider’s stock worth $313,000 after purchasing an additional 714 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IRM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Barclays upped their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $120.17.

Insider Activity

In other news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total transaction of $546,300.00. Following the transaction, the executive vice president directly owned 79,081 shares in the company, valued at $7,200,325.05. This represents a 7.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $89.56, for a total transaction of $6,190,835.00. The disclosure for this sale can be found here. Insiders have sold a total of 236,709 shares of company stock valued at $22,555,809 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Iron Mountain Price Performance

IRM stock opened at $92.32 on Tuesday. The company’s 50 day simple moving average is $95.18 and its 200-day simple moving average is $93.24. The firm has a market capitalization of $27.27 billion, a PE ratio of 659.49 and a beta of 1.08. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM) last released its earnings results 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. The company had revenue of $1.68 billion for 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 firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 EPS. As a group, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, September 15th. Iron Mountain’s dividend payout ratio is 2,242.86%.

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.