Aew Capital Management L P Decreases Stake in Iron Mountain Incorporated $IRM

Key Points

• Aew Capital Management L P has reduced its stake in Iron Mountain by 1.4%, now owning 669,267 shares valued at approximately $57.58 million, making it the 10th largest holding in their portfolio.
• Several other institutional investors have also altered their positions, with Price T Rowe Associates increasing their stake by 7% in the fourth quarter.
• Iron Mountain recently announced a quarterly dividend of $0.785 per share, with an annualized yield of 3.3% and a dividend payout ratio of 2,242.86%.

Aew Capital Management L P decreased its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 669,267 shares of the financial services provider's stock after selling 9,620 shares during the period. Iron Mountain accounts for approximately 2.8% of Aew Capital Management L P's holdings, making the stock its 10th biggest holding. Aew Capital Management L P owned about 0.23% of Iron Mountain worth $57,584,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. XTX Topco Ltd acquired a new position in Iron Mountain in the fourth quarter valued at approximately $223,000. Price T Rowe Associates Inc. MD raised its position in shares of Iron Mountain by 7.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 877,238 shares of the financial services provider's stock valued at $92,207,000 after acquiring an additional 57,104 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Iron Mountain in the 4th quarter valued at $707,000. Boothbay Fund Management LLC acquired a new position in shares of Iron Mountain in the 4th quarter valued at $263,000. Finally, Quarry LP boosted its position in shares of Iron Mountain by 76.4% in the 4th quarter. Quarry LP now owns 875 shares of the financial services provider's stock worth $92,000 after purchasing an additional 379 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Walter C. Rakowich sold 900 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the completion of the transaction, the director directly owned 36,515 shares of the company's stock, valued at $3,650,404.55. This represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 231,609 shares of company stock worth $22,736,123. Insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on IRM shares. Barclays boosted their target price on Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $120.17.

Iron Mountain Trading Up 3.5%

IRM stock opened at $93.7470 on Friday. The stock has a 50-day moving average price of $97.62 and a two-hundred day moving average price of $93.90. The stock has a market cap of $27.69 billion, a PE ratio of 669.67 and a beta of 1.07. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share 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 firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the firm posted $1.08 EPS. The business's revenue was up 11.6% on a year-over-year basis. On average, analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be issued a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, September 15th. Iron Mountain's dividend payout ratio is presently 2,242.86%.

About Iron Mountain

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.

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