Allianz Asset Management GmbH Sells 10,064 Shares of Iron Mountain Incorporated $IRM

Key Points

• Allianz Asset Management GmbH reduced its stake in Iron Mountain Incorporated by 18.2%, selling 10,064 shares and holding 45,186 shares worth $4.63 million as of the latest SEC filing.
• Institutional investors currently own 80.13% of Iron Mountain's stock, with significant investments coming from multiple hedge funds such as Blue Trust Inc. and Sequoia Financial Advisors LLC.
• Iron Mountain's CEO, William L. Meaney, sold 69,125 shares in two transactions, raising over $13 million collectively, while insiders have sold a total of 213,375 shares valued at approximately $20.3 million over the past ninety days.

Allianz Asset Management GmbH trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 18.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,186 shares of the financial services provider's stock after selling 10,064 shares during the period. Allianz Asset Management GmbH's holdings in Iron Mountain were worth $4,635,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of IRM. Blue Trust Inc. boosted its holdings in Iron Mountain by 154.9% during the first quarter. Blue Trust Inc. now owns 1,017 shares of the financial services provider's stock valued at $88,000 after acquiring an additional 618 shares during the period. Golden State Wealth Management LLC acquired a new position in Iron Mountain in the first quarter worth about $30,000. Sequoia Financial Advisors LLC raised its position in Iron Mountain by 7.0% in the first quarter. Sequoia Financial Advisors LLC now owns 8,873 shares of the financial services provider's stock worth $763,000 after purchasing an additional 580 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Iron Mountain by 5.4% in the first quarter. Robeco Institutional Asset Management B.V. now owns 20,206 shares of the financial services provider's stock valued at $1,739,000 after acquiring an additional 1,039 shares during the last quarter. Finally, Border to Coast Pensions Partnership Ltd raised its stake in shares of Iron Mountain by 4.3% in the first quarter. Border to Coast Pensions Partnership Ltd now owns 480,000 shares of the financial services provider's stock valued at $41,299,000 after acquiring an additional 20,000 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on IRM shares. Barclays raised their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Zacks Research raised shares of Iron Mountain from a "strong sell" rating to a "hold" rating in a research report on Monday. Jefferies Financial Group started coverage on shares of Iron Mountain in a research report on Monday, September 22nd. They issued a "buy" rating and a $120.00 price objective on the stock. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Iron Mountain in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $116.83.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $94.55, for a total transaction of $6,535,768.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,375 shares of company stock valued at $20,347,156. Insiders own 1.90% of the company's stock.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $103.93 on Friday. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The firm has a 50 day simple moving average of $98.68 and a 200 day simple moving average of $96.64. The company has a market cap of $30.70 billion, a price-to-earnings ratio of 742.44 and a beta of 1.06.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the prior year, the company posted $1.08 earnings per share. Iron Mountain's revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. Iron Mountain's payout ratio is presently 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.

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