B. Metzler seel. Sohn & Co. AG Has $1.82 Million Holdings in Iron Mountain Incorporated $IRM

Key Points

• B. Metzler seel. Sohn & Co. AG reduced its stake in Iron Mountain Incorporated by 14.2%, selling 3,505 shares, leaving them with 21,193 shares valued at approximately $1.82 million.
• Iron Mountain recently reported earnings of $1.24 per share, surpassing expectations, with quarterly revenue rising 11.6% year-over-year to $1.68 billion.
• The company announced a quarterly dividend of $0.785, equating to an annualized yield of 3.4%, with a high payout ratio of 2,242.86%.

B. Metzler seel. Sohn & Co. AG decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,193 shares of the financial services provider's stock after selling 3,505 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Iron Mountain were worth $1,823,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cranbrook Wealth Management LLC bought a new stake in Iron Mountain during the first quarter worth approximately $26,000. Financial Network Wealth Advisors LLC acquired a new stake in shares of Iron Mountain during the first quarter worth $26,000. Golden State Wealth Management LLC acquired a new position in shares of Iron Mountain in the 1st quarter valued at $30,000. Ramirez Asset Management Inc. purchased a new position in Iron Mountain in the 1st quarter worth about $34,000. Finally, Wayfinding Financial LLC acquired a new stake in Iron Mountain during the 1st quarter worth about $37,000. 80.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Greg W. Mcintosh sold 17,334 shares of Iron Mountain stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the completion of the sale, the executive vice president owned 35,446 shares of the company's stock, valued at approximately $3,544,600. This trade represents a 32.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction dated Friday, August 1st. The stock was 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. Over the last ninety days, insiders sold 161,584 shares of company stock worth $15,818,674. Corporate insiders own 1.90% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price 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. Barclays raised their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $120.17.

Iron Mountain Stock Down 0.0%

Shares of IRM traded down $0.04 during trading hours on Wednesday, reaching $89.43. The company's stock had a trading volume of 1,149,464 shares, compared to its average volume of 1,792,825. The company has a 50 day moving average of $96.05 and a two-hundred day moving average of $93.30. The firm has a market cap of $26.41 billion, a price-to-earnings ratio of 639.05 and a beta of 1.08. 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 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 firm had revenue of $1.68 billion for 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 firm's revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 earnings per share. As a group, analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

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