Iron Mountain Incorporated $IRM Shares Sold by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH significantly reduced its stake in Iron Mountain Incorporated by 71.7%, leaving them with 24,500 shares valued at $2,087,000 as of the latest filing.
• Analysts have mixed sentiments on Iron Mountain, with JPMorgan lowering their price target from $112.00 to $100.00 while Barclays increased it from $121.00 to $122.00, both maintaining an "overweight" rating.
• Iron Mountain announced a quarterly dividend of $0.785 per share, signifying a 3.5% dividend yield, with a payout ratio currently at 2,242.86%.

Erste Asset Management GmbH cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 71.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,500 shares of the financial services provider's stock after selling 62,100 shares during the quarter. Erste Asset Management GmbH's holdings in Iron Mountain were worth $2,087,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Whittier Trust Co. boosted its position in Iron Mountain by 3.4% during the first quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider's stock worth $281,000 after purchasing an additional 108 shares in the last quarter. DoubleLine ETF Adviser LP lifted its position in shares of 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 acquiring an additional 114 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Iron Mountain by 3.7% in the first 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 in the last quarter. Diversify Advisory Services LLC lifted its position in shares of Iron Mountain by 1.9% in the first quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider's stock valued at $572,000 after acquiring an additional 123 shares in the last quarter. Finally, NorthRock Partners LLC lifted its position in shares of Iron Mountain by 2.6% in the first quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider's stock valued at $440,000 after acquiring an additional 131 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

NYSE IRM traded up $3.1970 during trading hours on Friday, hitting $93.7470. 1,166,349 shares of the company's stock were exchanged, compared to its average volume of 1,538,975. The business's 50 day moving average is $97.62 and its 200-day moving average is $93.74. 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 $27.69 billion, a P/E ratio of 669.67 and a beta of 1.07.

Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate 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 negative return on equity of 146.80% and a net margin of 0.66%.The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.08 earnings per share. As a group, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be paid a dividend of $0.785 per share. The ex-dividend date is Monday, September 15th. This represents a $3.14 annualized dividend and a yield of 3.3%. Iron Mountain's dividend payout ratio is currently 2,242.86%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, EVP Greg W. Mcintosh sold 17,334 shares of the company's stock in a transaction dated 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 directly owned 35,446 shares in the company, valued at $3,544,600. This represents a 32.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total value of $612,120.00. Following the sale, the executive vice president owned 91,081 shares of the company's stock, valued at $9,292,083.62. This represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 231,609 shares of company stock valued at $22,736,123. Insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on IRM shares. JPMorgan Chase & Co. reduced their price objective 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. Barclays increased their target price on Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $120.17.

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.