Iron Mountain Incorporated $IRM Stock Holdings Trimmed by AQR Capital Management LLC

AQR Capital Management LLC lessened its position in Iron Mountain Incorporated (NYSE:IRM) by 68.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 65,165 shares of the financial services provider’s stock after selling 138,699 shares during the period. AQR Capital Management LLC’s holdings in Iron Mountain were worth $5,531,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Atalanta Sosnoff Capital LLC raised its stake in shares of Iron Mountain by 15.1% in the 1st quarter. Atalanta Sosnoff Capital LLC now owns 5,741 shares of the financial services provider’s stock worth $494,000 after buying an additional 751 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Iron Mountain in the 1st quarter worth $15,193,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Iron Mountain by 178.6% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 318,052 shares of the financial services provider’s stock worth $27,365,000 after buying an additional 203,900 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its stake in shares of Iron Mountain by 22.8% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 42,272 shares of the financial services provider’s stock worth $3,637,000 after buying an additional 7,862 shares in the last quarter. Finally, Contour Asset Management LLC bought a new stake in shares of Iron Mountain in the 1st quarter worth $122,801,000. Institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IRM shares. JPMorgan Chase & Co. dropped their price objective 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 lifted their target price on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $120.17.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total transaction of $6,937,385.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $89.56, for a total value of $6,190,835.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 236,709 shares of company stock worth $22,555,809. 1.90% of the stock is owned by corporate insiders.

Iron Mountain Stock Down 2.0%

Shares of NYSE IRM opened at $96.82 on Friday. The stock has a market capitalization of $28.60 billion, a price-to-earnings ratio of 691.64 and a beta of 1.08. The stock’s fifty day simple moving average is $94.93 and its 200 day simple moving average is $93.37. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) 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 business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the firm posted $1.08 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, 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 will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be issued a dividend of $0.785 per share. The ex-dividend date is Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.2%. Iron Mountain’s 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.