Comprehensive Money Management Services LLC Purchases 447 Shares of Iron Mountain Incorporated $IRM

Comprehensive Money Management Services LLC lifted its position in Iron Mountain Incorporated (NYSE:IRM) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,725 shares of the financial services provider’s stock after buying an additional 447 shares during the quarter. Iron Mountain comprises approximately 1.1% of Comprehensive Money Management Services LLC’s holdings, making the stock its 18th biggest position. Comprehensive Money Management Services LLC’s holdings in Iron Mountain were worth $1,510,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in IRM. Nuveen LLC bought a new position in shares of Iron Mountain in the first quarter valued at $192,231,000. Contour Asset Management LLC bought a new position in shares of Iron Mountain in the first quarter valued at $122,801,000. Goldman Sachs Group Inc. grew its stake in shares of Iron Mountain by 86.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock valued at $169,922,000 after buying an additional 913,715 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Iron Mountain by 117.7% in the first quarter. Principal Financial Group Inc. now owns 904,184 shares of the financial services provider’s stock valued at $77,796,000 after buying an additional 488,816 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Iron Mountain by 14.7% in the first quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider’s stock valued at $245,124,000 after buying an additional 366,134 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IRM has been the subject of several research reports. Barclays raised their price target on Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday. JPMorgan Chase & Co. cut their price target 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 initiated coverage on Iron Mountain in a report on Monday, September 22nd. They set a “buy” rating and a $120.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Iron Mountain has a consensus rating of “Buy” and an average target price of $116.83.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total transaction of $7,074,252.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. Insiders have sold 213,375 shares of company stock valued at $20,347,156 over the last 90 days. 1.90% of the stock is owned by corporate insiders.

Iron Mountain Stock Performance

IRM opened at $101.98 on Friday. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The company has a market capitalization of $30.12 billion, a P/E ratio of 728.48 and a beta of 1.06. The stock has a fifty day moving average of $96.49 and a 200-day moving average of $95.38.

Iron Mountain (NYSE:IRM) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the firm earned $1.08 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. On average, equities research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were given a dividend of $0.785 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a yield of 3.1%. Iron Mountain’s dividend payout ratio is currently 2,242.86%.

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.