Blair William & Co. IL Sells 16,408 Shares of Iron Mountain Incorporated $IRM

Key Points

• Blair William & Co. IL decreased its ownership in Iron Mountain by 5.0%, selling 16,408 shares and retaining a total of 314,130 shares valued at approximately $32.2 million.
• Several institutional investors increased their stakes in Iron Mountain, with Vanguard adding 220,564 shares, bringing their total to nearly 46.8 million shares valued at over $4 billion.
• The company announced a recent quarterly dividend of $0.785 per share, representing an annual yield of 3.0% and a notable dividend payout ratio of 2,242.86%.

Blair William & Co. IL reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 314,130 shares of the financial services provider's stock after selling 16,408 shares during the quarter. Blair William & Co. IL owned about 0.11% of Iron Mountain worth $32,220,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Iron Mountain by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 46,825,734 shares of the financial services provider's stock valued at $4,028,886,000 after purchasing an additional 220,564 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Iron Mountain by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 4,256,417 shares of the financial services provider's stock valued at $366,210,000 after buying an additional 37,154 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Iron Mountain by 14.7% during the first quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider's stock valued at $245,124,000 after buying an additional 366,134 shares during the last quarter. Nuveen LLC bought a new stake in shares of Iron Mountain during the first quarter worth about $192,231,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Iron Mountain by 17.8% in the 1st quarter. JPMorgan Chase & Co. now owns 2,061,560 shares of the financial services provider's stock worth $177,377,000 after acquiring an additional 311,494 shares during the last quarter. Institutional investors own 80.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on IRM shares. Jefferies Financial Group began coverage on Iron Mountain in a report on Monday, September 22nd. They set a "buy" rating and a $120.00 price objective for the company. Barclays upped their price target on Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Weiss Ratings restated a "hold (c)" rating on shares of Iron Mountain in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $116.83.

Insider Activity at Iron Mountain

In other news, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,375 shares of company stock worth $20,347,156. Company insiders own 1.90% of the company's stock.

Iron Mountain Stock Performance

Shares of IRM stock opened at $105.00 on Friday. The firm has a market cap of $31.01 billion, a price-to-earnings ratio of 750.05 and a beta of 1.06. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The firm's 50-day simple moving average is $96.33 and its two-hundred day simple moving average is $95.28.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the previous year, the firm posted $1.08 EPS. Iron Mountain's revenue was up 11.6% on a year-over-year basis. 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 was paid on Friday, October 3rd. Investors of record on Monday, September 15th were issued a $0.785 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.14 annualized dividend and a yield of 3.0%. Iron Mountain's dividend payout ratio (DPR) is 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.

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