Maia Wealth LLC Takes Position in Iron Mountain Incorporated (NYSE:IRM)

Maia Wealth LLC purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,202 shares of the financial services provider’s stock, valued at approximately $215,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its stake in shares of Iron Mountain by 2.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 321,492 shares of the financial services provider’s stock worth $25,787,000 after purchasing an additional 7,486 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Iron Mountain by 22.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock worth $47,547,000 after buying an additional 110,551 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Iron Mountain by 6.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock worth $65,787,000 after buying an additional 59,381 shares during the period. Handelsbanken Fonder AB increased its holdings in Iron Mountain by 42.3% in the fourth quarter. Handelsbanken Fonder AB now owns 162,087 shares of the financial services provider’s stock valued at $11,343,000 after buying an additional 48,170 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Iron Mountain by 6.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 462,652 shares of the financial services provider’s stock worth $30,637,000 after acquiring an additional 27,551 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Up 0.1 %

Shares of IRM traded up $0.15 during midday trading on Wednesday, reaching $108.04. 42,009 shares of the company were exchanged, compared to its average volume of 1,654,954. Iron Mountain Incorporated has a 1-year low of $56.51 and a 1-year high of $112.79. The stock has a 50-day moving average price of $95.21 and a 200-day moving average price of $83.15. The company has a current ratio of 0.79, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63. The company has a market cap of $31.67 billion, a price-to-earnings ratio of 163.47, a P/E/G ratio of 6.49 and a beta of 0.98.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 earnings per share. Research analysts expect that Iron Mountain Incorporated will post 4.22 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.65%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is currently 433.33%.

Analyst Upgrades and Downgrades

IRM has been the subject of several research reports. The Goldman Sachs Group lifted their price objective on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Stifel Nicolaus raised their target price on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Wells Fargo & Company lifted their target price on shares of Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and an average price target of $95.29.

Insider Buying and Selling at Iron Mountain

In related news, Director Walter C. Rakowich sold 954 shares of Iron Mountain stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total value of $77,588.82. Following the completion of the sale, the director now owns 35,166 shares in the company, valued at $2,860,050.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Walter C. Rakowich sold 954 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $81.33, for a total value of $77,588.82. Following the completion of the sale, the director now directly owns 35,166 shares in the company, valued at approximately $2,860,050.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Greg W. Mcintosh sold 13,923 shares of Iron Mountain stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $87.41, for a total transaction of $1,217,009.43. Following the completion of the transaction, the executive vice president now directly owns 18,107 shares of the company’s stock, valued at approximately $1,582,732.87. The disclosure for this sale can be found here. Insiders sold a total of 96,372 shares of company stock worth $8,516,435 in the last 90 days. 2.10% of the stock is owned by corporate insiders.

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.