Iron Mountain Incorporated $IRM Stock Position Boosted by Machina Capital S.A.S.

Machina Capital S.A.S. lifted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 89.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,792 shares of the financial services provider’s stock after purchasing an additional 6,985 shares during the quarter. Machina Capital S.A.S.’s holdings in Iron Mountain were worth $1,641,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. 71 West Capital Partners increased its holdings in Iron Mountain by 25.0% during the 3rd quarter. 71 West Capital Partners now owns 2,008 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 402 shares in the last quarter. AlphaCore Capital LLC boosted its position in shares of Iron Mountain by 28.9% during the third quarter. AlphaCore Capital LLC now owns 6,456 shares of the financial services provider’s stock worth $720,000 after buying an additional 1,448 shares during the period. Fulcrum Asset Management LLP boosted its position in shares of Iron Mountain by 1,375.0% during the third quarter. Fulcrum Asset Management LLP now owns 295 shares of the financial services provider’s stock worth $33,000 after buying an additional 275 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Iron Mountain by 76.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 100,020 shares of the financial services provider’s stock worth $11,115,000 after acquiring an additional 43,349 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. raised its holdings in shares of Iron Mountain by 75.5% in the third quarter. University of Texas Texas AM Investment Management Co. now owns 883 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 380 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Performance

Iron Mountain stock opened at $114.55 on Friday. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $134.68. The stock has a market capitalization of $34.12 billion, a P/E ratio of 74.87 and a beta of 1.18. The stock has a 50-day simple moving average of $113.54 and a 200 day simple moving average of $115.75.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, November 5th. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Iron Mountain had a negative return on equity of 79.98% and a net margin of 5.88%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.32 earnings per share. Research analysts forecast that Iron Mountain Incorporated will post 5.42 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 6th. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.9930 per share. The ex-dividend date is Tuesday, December 15th. This represents a $3.97 annualized dividend and a dividend yield of 3.5%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.8640. Iron Mountain’s dividend payout ratio is presently 226.14%.

Analyst Upgrades and Downgrades

IRM has been the subject of several recent research reports. Barclays increased their target price on shares of Iron Mountain from $143.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, September 8th. Jefferies Financial Group lowered their price target on shares of Iron Mountain from $147.00 to $135.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. Weiss Ratings cut shares of Iron Mountain from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. The Goldman Sachs Group boosted their price target on shares of Iron Mountain from $153.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Finally, Truist Financial increased their price objective on shares of Iron Mountain from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $141.33.

Insider Buying and Selling

In related news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $115.60, for a total value of $693,600.00. Following the sale, the executive vice president owned 95,507 shares in the company, valued at approximately $11,040,609.20. This represents a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Meaney sold 38,474 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $114.08, for a total value of $4,389,113.92. Following the completion of the sale, the chief executive officer owned 38,474 shares in the company, valued at approximately $4,389,113.92. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 136,422 shares of company stock valued at $15,116,038. 1.70% of the stock is owned by insiders.

Iron Mountain Profile

Iron Mountain Incorporated is an information management and storage company that helps organizations protect, manage and access physical and digital assets. Its services include records storage and management, secure document shredding, digitization and other information-management solutions. The company also operates data centers and provides services for businesses moving, storing and managing data. Its offerings extend to specialized storage and care for items such as artwork and other valuable collections.