ASR Vermogensbeheer N.V. Takes $7.80 Million Position 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. acquired a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 90,601 shares of the financial services provider's stock, valued at approximately $7,796,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. increased its holdings in shares of Iron Mountain by 3.4% in the 1st quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider's stock valued at $281,000 after purchasing an additional 108 shares in the last quarter. Belpointe Asset Management LLC grew its position in Iron Mountain by 1.6% during the fourth quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider's stock worth $821,000 after buying an additional 112 shares during the period. DoubleLine ETF Adviser LP increased its holdings in Iron Mountain by 0.5% in the fourth quarter. DoubleLine ETF Adviser LP now owns 21,064 shares of the financial services provider's stock valued at $2,214,000 after buying an additional 114 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Iron Mountain by 3.7% during the 1st quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider's stock valued at $285,000 after acquiring an additional 118 shares during the period. Finally, Diversify Advisory Services LLC boosted its stake in shares of Iron Mountain by 1.9% during the 1st quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider's stock worth $572,000 after acquiring an additional 123 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total transaction of $6,937,385.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 owned 91,081 shares in the company, valued at $9,292,083.62. The trade was a 6.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 240,007 shares of company stock valued at $23,543,507. Company insiders own 1.90% of the company's stock.

Iron Mountain Stock Performance

Iron Mountain stock traded down $1.61 during midday trading on Friday, reaching $90.22. 1,555,413 shares of the company were exchanged, compared to its average volume of 1,376,272. The firm's 50-day simple moving average is $99.49 and its 200-day simple moving average is $94.75. The company has a market capitalization of $26.62 billion, a price-to-earnings ratio of 644.47 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 posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate 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 in the prior year, the company posted $1.08 EPS. On average, analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IRM shares. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, Barclays boosted their price objective 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. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Iron Mountain presently has an average rating of "Buy" and an average price target of $120.00.

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.