Texas Bank & Trust Co Acquires Shares of 2,054 Iron Mountain Incorporated $IRM

Texas Bank & Trust Co bought a new stake in Iron Mountain Incorporated (NYSE:IRM) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,054 shares of the financial services provider’s stock, valued at approximately $211,000.

A number of other hedge funds have also made changes to their positions in IRM. Golden State Wealth Management LLC acquired a new position in Iron Mountain in the first quarter valued at about $30,000. Vontobel Holding Ltd. raised its stake in shares of Iron Mountain by 150.4% in the first quarter. Vontobel Holding Ltd. now owns 11,687 shares of the financial services provider’s stock valued at $1,006,000 after acquiring an additional 7,019 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Iron Mountain by 60.4% in the 1st quarter. Teacher Retirement System of Texas now owns 57,824 shares of the financial services provider’s stock worth $4,975,000 after acquiring an additional 21,775 shares in the last quarter. Principal Financial Group Inc. grew its position in Iron Mountain by 117.7% during the 1st 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, GF Fund Management CO. LTD. grew its position in Iron Mountain by 4.3% during the 1st quarter. GF Fund Management CO. LTD. now owns 5,558 shares of the financial services provider’s stock worth $478,000 after acquiring an additional 228 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total transaction of $546,300.00. Following the completion of the transaction, the executive vice president owned 79,081 shares in the company, valued at $7,200,325.05. This represents a 7.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 144,250 shares of company stock valued at $13,811,388. 1.90% of the stock is owned by corporate insiders.

Iron Mountain Stock Up 1.8%

IRM stock opened at $103.12 on Monday. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $127.29. The company has a market cap of $30.46 billion, a P/E ratio of 736.60 and a beta of 1.06. The business has a fifty day moving average of $100.12 and a 200-day moving average of $97.87.

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

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were given a dividend of $0.785 per share. The ex-dividend date was Monday, September 15th. This represents a $3.14 annualized dividend and a dividend yield of 3.0%. Iron Mountain’s payout ratio is currently 2,242.86%.

Analyst Ratings Changes

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

Iron Mountain 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.