ASR Vermogensbeheer N.V. Acquires New Holdings in Iron Mountain Incorporated (NYSE:IRM)

Key Points

• ASR Vermogensbeheer N.V. has invested approximately $7.80 million in Iron Mountain Incorporated by purchasing 90,601 shares in the first quarter.
• The company's CEO, William L. Meaney, sold 69,125 shares valued at over $6.5 million on August 1, indicating notable insider activity.
• Iron Mountain recently announced a quarterly dividend of $0.785 per share, representing an annualized yield of 3.5% and a high payout ratio of 765.85%.

ASR Vermogensbeheer N.V. purchased a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 90,601 shares of the financial services provider's stock, valued at approximately $7,796,000.

Several other institutional investors and hedge funds also recently made changes to their positions in IRM. Cerity Partners LLC grew its stake in shares of Iron Mountain by 11.8% in the fourth quarter. Cerity Partners LLC now owns 32,836 shares of the financial services provider's stock valued at $3,625,000 after buying an additional 3,474 shares in the last quarter. Invesco Ltd. raised its stake in Iron Mountain by 17.2% in the 4th quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider's stock valued at $260,969,000 after acquiring an additional 363,783 shares during the period. Shelton Capital Management lifted its holdings in Iron Mountain by 0.7% during the 4th quarter. Shelton Capital Management now owns 40,663 shares of the financial services provider's stock valued at $4,274,000 after purchasing an additional 292 shares during the last quarter. FIL Ltd boosted its position in Iron Mountain by 768.1% during the fourth quarter. FIL Ltd now owns 5,547 shares of the financial services provider's stock worth $583,000 after purchasing an additional 4,908 shares during the period. Finally, Bank of Nova Scotia increased its holdings in shares of Iron Mountain by 26.9% in the fourth quarter. Bank of Nova Scotia now owns 47,633 shares of the financial services provider's stock valued at $5,007,000 after purchasing an additional 10,105 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Barclays upped their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $120.00.

Insider Activity

In other Iron Mountain 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 directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $89,973.00. Following the completion of the sale, the director owned 36,515 shares in the company, valued at approximately $3,650,404.55. The trade was 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 240,007 shares of company stock valued at $23,543,507. Corporate insiders own 1.90% of the company's stock.

Iron Mountain Stock Performance

Shares of IRM stock traded down $0.08 on Monday, hitting $90.08. The company's stock had a trading volume of 298,561 shares, compared to its average volume of 1,851,153. The stock's 50 day moving average is $99.49 and its 200-day moving average is $94.53. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The company has a market capitalization of $26.60 billion, a PE ratio of 644.05 and a beta of 1.07.

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

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Monday, September 15th. Iron Mountain's dividend payout ratio is presently 2,242.86%.

Iron Mountain 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.