Iron Mountain Incorporated $IRM Stock Holdings Trimmed by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. reduced its stake in Iron Mountain by 2.2%, now holding approximately $132.39 million worth of shares, which is about 0.53% of the company.
• Iron Mountain's stock has faced recent price adjustments, with JPMorgan reducing its target from $112 to $100, while Barclays raised its target from $121 to $122, maintaining an "overweight" rating on the stock.
• The company recently announced a quarterly dividend of $0.785 per share, reflecting a 3.3% annualized dividend yield, set to be paid on October 3rd to stockholders of record on September 15th.

Ameriprise Financial Inc. lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 2.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,554,684 shares of the financial services provider's stock after selling 35,686 shares during the period. Ameriprise Financial Inc. owned approximately 0.53% of Iron Mountain worth $132,388,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. XTX Topco Ltd purchased a new stake in Iron Mountain during the 4th quarter worth $223,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Iron Mountain by 7.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 877,238 shares of the financial services provider's stock worth $92,207,000 after purchasing an additional 57,104 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Iron Mountain during the fourth quarter worth about $707,000. Boothbay Fund Management LLC purchased a new stake in shares of Iron Mountain in the fourth quarter worth about $263,000. Finally, Quarry LP grew its stake in shares of Iron Mountain by 76.4% in the fourth quarter. Quarry LP now owns 875 shares of the financial services provider's stock valued at $92,000 after buying an additional 379 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on IRM shares. JPMorgan Chase & Co. decreased their price target on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Barclays boosted their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $120.17.

Insider Transactions at Iron Mountain

In related news, EVP Greg W. Mcintosh sold 17,334 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the sale, the executive vice president owned 35,446 shares in the company, valued at $3,544,600. This represents a 32.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $94.55, for a total value of $6,535,768.75. The disclosure for this sale can be found here. Insiders have sold a total of 231,609 shares of company stock valued at $22,736,123 over the last 90 days. Insiders own 1.90% of the company's stock.

Iron Mountain Trading Down 0.0%

IRM stock traded down $0.02 during mid-day trading on Friday, hitting $91.95. 494,461 shares of the company were exchanged, compared to its average volume of 1,793,423. The firm has a fifty day simple moving average of $96.76 and a 200 day simple moving average of $93.52. The company has a market capitalization of $27.16 billion, a PE ratio of 656.37 and a beta of 1.07. 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 Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.19 by $0.05. The business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The company's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.08 earnings per share. As a group, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be given a $0.785 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.14 annualized dividend and a dividend yield of 3.4%. Iron Mountain's dividend payout ratio (DPR) 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.