Iron Mountain Incorporated (NYSE:IRM) Holdings Lifted by AQR Capital Management LLC

AQR Capital Management LLC grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,238 shares of the financial services provider’s stock after buying an additional 322 shares during the period. AQR Capital Management LLC’s holdings in Iron Mountain were worth $4,502,000 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. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Iron Mountain during the 2nd quarter worth $32,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Iron Mountain in the second quarter worth about $36,000. Headlands Technologies LLC acquired a new stake in Iron Mountain in the first quarter worth about $38,000. Family Firm Inc. bought a new position in Iron Mountain in the 2nd quarter valued at about $45,000. Finally, Transcendent Capital Group LLC acquired a new position in Iron Mountain during the 4th quarter valued at about $36,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $91.59, for a total value of $1,453,991.25. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $27,078,583.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Iron Mountain news, COO John Tomovcsik sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the transaction, the chief operating officer now owns 17,866 shares in the company, valued at approximately $1,786,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $91.59, for a total transaction of $1,453,991.25. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $27,078,583.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,003 shares of company stock valued at $3,352,406 in the last three months. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $118.28 on Friday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market capitalization of $34.67 billion, a PE ratio of 179.21, a price-to-earnings-growth ratio of 7.09 and a beta of 1.00. The stock has a fifty day moving average of $112.22 and a 200-day moving average of $93.82. Iron Mountain Incorporated has a one year low of $56.51 and a one year high of $120.54.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business earned $0.94 EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were paid a $0.715 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a yield of 2.42%. Iron Mountain’s dividend payout ratio (DPR) is currently 433.33%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group upped their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus lifted their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

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.