Asset Management One Co. Ltd. Cuts Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Asset Management One Co. Ltd. reduced its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 1.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 555,014 shares of the financial services provider's stock after selling 7,527 shares during the period. Asset Management One Co. Ltd. owned approximately 0.19% of Iron Mountain worth $47,753,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of IRM. Proficio Capital Partners LLC bought a new stake in shares of Iron Mountain in the fourth quarter worth about $102,000. Assenagon Asset Management S.A. increased its stake in Iron Mountain by 3.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 11,538 shares of the financial services provider's stock worth $993,000 after acquiring an additional 388 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of Iron Mountain by 134.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 7,545 shares of the financial services provider's stock worth $649,000 after acquiring an additional 4,330 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Iron Mountain by 1.5% during the 1st quarter. State of Alaska Department of Revenue now owns 176,632 shares of the financial services provider's stock valued at $15,197,000 after acquiring an additional 2,530 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC grew its position in Iron Mountain by 25.2% in the first quarter. Dynamic Advisor Solutions LLC now owns 3,075 shares of the financial services provider's stock worth $265,000 after acquiring an additional 619 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Price Performance

NYSE:IRM traded down $2.48 during mid-day trading on Wednesday, hitting $102.77. The company's stock had a trading volume of 1,544,257 shares, compared to its average volume of 1,924,429. The business's fifty day moving average is $96.25 and its two-hundred day moving average is $96.56. The stock has a market cap of $30.32 billion, a price-to-earnings ratio of 250.66 and a beta of 1.09. 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 announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.01. The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. Iron Mountain's quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the business earned $1.10 earnings per share. Analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be issued a $0.785 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.06%. Iron Mountain's payout ratio is 765.85%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays increased their price target on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Truist Financial started coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. Finally, Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $121.71.

Insiders Place Their Bets

In other news, EVP Greg W. Mcintosh sold 8,398 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $96.14, for a total transaction of $807,383.72. Following the completion of the transaction, the executive vice president now directly owns 70,114 shares of the company's stock, valued at $6,740,759.96. This represents a 10.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $96.09, for a total transaction of $6,642,221.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 216,673 shares of company stock worth $20,319,408. Company insiders own 1.90% of the company's stock.

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.