TPG Advisors LLC Acquires Shares of 1,954 Iron Mountain Incorporated $IRM

TPG Advisors LLC acquired a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) in the second quarter, Holdings Channel reports. The firm acquired 1,954 shares of the financial services provider’s stock, valued at approximately $200,000.

A number of other large investors have also added to or reduced their stakes in the stock. Community Bank & Trust Waco Texas purchased a new position in Iron Mountain during the second quarter valued at $226,000. PFG Investments LLC increased its holdings in shares of Iron Mountain by 0.6% in the 2nd quarter. PFG Investments LLC now owns 23,599 shares of the financial services provider’s stock worth $2,421,000 after purchasing an additional 133 shares in the last quarter. LBP AM SA bought a new stake in shares of Iron Mountain in the 2nd quarter worth $11,741,000. Cooper Financial Group increased its holdings in shares of Iron Mountain by 3.7% in the 2nd quarter. Cooper Financial Group now owns 3,155 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 113 shares in the last quarter. Finally, Trivium Point Advisory LLC bought a new stake in shares of Iron Mountain in the 2nd quarter worth $723,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on IRM shares. Barclays lifted their target price on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Finally, Jefferies Financial Group started coverage on Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $116.83.

Iron Mountain Price Performance

IRM stock opened at $102.32 on Thursday. The company has a market cap of $30.22 billion, a P/E ratio of 730.89 and a beta of 1.06. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The stock’s fifty day moving average price is $95.52 and its 200-day moving average price is $94.59.

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

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is 2,242.86%.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $89.56, for a total transaction of $6,190,835.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction 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 a total of 144,250 shares of company stock worth $13,272,904 in the last ninety days. Insiders own 1.90% of the company’s stock.

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.