Allianz Asset Management GmbH Has $4.75 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Key Points

• Allianz Asset Management GmbH increased its stake in Iron Mountain by 12.6%, bringing its total ownership to 55,250 shares valued at approximately $4.75 million.
• Iron Mountain reported $1.17 EPS for the last quarter, exceeding analysts' expectations, and experienced a 7.9% increase in revenue year-over-year.
• Iron Mountain’s recent quarterly dividend of $0.785 per share reflects a 3.20% dividend yield but is accompanied by a high payout ratio of 765.85%.

Allianz Asset Management GmbH raised its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 12.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,250 shares of the financial services provider's stock after acquiring an additional 6,197 shares during the period. Allianz Asset Management GmbH's holdings in Iron Mountain were worth $4,754,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of IRM. Northern Trust Corp lifted its stake in shares of Iron Mountain by 56.1% in the fourth quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock valued at $454,756,000 after buying an additional 1,554,746 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Iron Mountain by 439.8% in the fourth quarter. Point72 Asset Management L.P. now owns 1,200,660 shares of the financial services provider's stock valued at $126,201,000 after buying an additional 978,251 shares during the period. Nuveen Asset Management LLC raised its position in Iron Mountain by 39.0% in the fourth quarter. Nuveen Asset Management LLC now owns 2,548,970 shares of the financial services provider's stock worth $267,922,000 after purchasing an additional 715,024 shares in the last quarter. Principal Financial Group Inc. raised its position 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 in the last quarter. Finally, Adelante Capital Management LLC raised its position in Iron Mountain by 1,403.5% in the fourth quarter. Adelante Capital Management LLC now owns 445,897 shares of the financial services provider's stock worth $46,868,000 after purchasing an additional 416,239 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Performance

Shares of NYSE IRM traded down $1.82 during mid-day trading on Friday, hitting $95.54. 437,215 shares of the stock were exchanged, compared to its average volume of 1,828,925. The company has a market cap of $28.19 billion, a P/E ratio of 233.26 and a beta of 1.08. The stock's fifty day simple moving average is $100.03 and its two-hundred day simple moving average is $95.39. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. Iron Mountain's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.10 earnings per share. As a group, equities research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

IRM has been the subject of several recent research reports. Barclays increased their price target on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Truist Financial initiated coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target for the company. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $121.71.

Insider Activity at Iron Mountain

In related news, Director Walter C. Rakowich sold 900 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total value of $89,973.00. Following the completion of the sale, the director owned 36,515 shares of the company's stock, valued at $3,650,404.55. This trade represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $102.02, for a total transaction of $612,120.00. Following the completion of the sale, the executive vice president directly owned 91,081 shares of the company's stock, valued at approximately $9,292,083.62. This represents a 6.18% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 170,882 shares of company stock worth $17,007,738. 1.90% of the stock is currently owned by company insiders.

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.