1,950 Shares in Iron Mountain Incorporated $IRM Bought by Pegasus Asset Management Inc.

Pegasus Asset Management Inc. purchased a new position in Iron Mountain Incorporated (NYSE:IRM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,950 shares of the financial services provider’s stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IRM. Nuveen LLC purchased a new stake in Iron Mountain in the first quarter worth $192,231,000. Contour Asset Management LLC purchased a new stake in Iron Mountain in the first quarter worth $122,801,000. Goldman Sachs Group Inc. grew its stake in 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 worth $169,922,000 after purchasing an additional 913,715 shares during the period. Principal Financial Group Inc. grew its stake in 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 worth $77,796,000 after purchasing an additional 488,816 shares during the period. Finally, Invesco Ltd. grew its stake in Iron Mountain by 14.7% in the first quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider’s stock worth $245,124,000 after purchasing an additional 366,134 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $94.55, for a total value of $6,535,768.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total value of $7,074,252.50. The disclosure for this sale can be found here. Insiders have sold a total of 213,375 shares of company stock valued at $20,347,156 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $101.98 on Monday. The company has a market cap of $30.12 billion, a P/E ratio of 728.48 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 $96.49 and its 200-day moving average price is $95.51.

Iron Mountain (NYSE:IRM) last announced its quarterly 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 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 quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 earnings per share. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current 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 issued a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, September 15th. Iron Mountain’s dividend payout ratio is presently 2,242.86%.

Wall Street Analysts Forecast Growth

IRM has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. JPMorgan Chase & Co. cut their target price on 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 increased their target price on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Finally, Jefferies Financial Group started coverage on Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $116.83.

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.