Czech National Bank Purchases 4,652 Shares of Iron Mountain Incorporated $IRM

Key Points

• The Czech National Bank increased its stake in Iron Mountain Incorporated by 6.9%, owning 72,119 shares valued at approximately $7.4 million as of the latest SEC filing.
• Iron Mountain reported quarterly earnings of $1.24 per share, surpassing the consensus estimate by $0.05, with a year-over-year revenue increase of 11.6%.
• The company has announced a quarterly dividend of $0.785, reflecting a 3.2% dividend yield, with a high dividend payout ratio of 2,242.86%.

Czech National Bank grew its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,119 shares of the financial services provider's stock after purchasing an additional 4,652 shares during the period. Czech National Bank's holdings in Iron Mountain were worth $7,397,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Kestra Private Wealth Services LLC raised its holdings in shares of Iron Mountain by 14.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider's stock valued at $1,251,000 after buying an additional 1,860 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Iron Mountain by 86.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider's stock valued at $169,922,000 after acquiring an additional 913,715 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Iron Mountain during the 1st quarter worth $30,000. Steward Partners Investment Advisory LLC grew its stake in Iron Mountain by 1.4% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 38,032 shares of the financial services provider's stock worth $3,272,000 after buying an additional 513 shares during the last quarter. Finally, Inspire Trust Co. N.A. grew its stake in Iron Mountain by 21.4% during the 1st quarter. Inspire Trust Co. N.A. now owns 17,000 shares of the financial services provider's stock worth $1,463,000 after buying an additional 3,000 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on IRM shares. Barclays boosted their price target on Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. Based on data from MarketBeat, Iron Mountain has a consensus rating of "Buy" and an average price target of $120.17.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $89.56, for a total value of $6,190,835.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total value of $6,937,385.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 236,709 shares of company stock valued at $22,555,809. 1.90% of the stock is currently owned by corporate insiders.

Iron Mountain Trading Up 1.0%

NYSE:IRM traded up $0.98 during mid-day trading on Friday, hitting $99.90. 3,124,238 shares of the company's stock traded hands, compared to its average volume of 1,344,872. The firm has a 50 day moving average of $94.98 and a two-hundred day moving average of $93.70. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The firm has a market capitalization of $29.51 billion, a price-to-earnings ratio of 713.62 and a beta of 1.08.

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, topping analysts' consensus estimates of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the company earned $1.08 EPS. The company's quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be issued 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 3.1%. 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.