Gulf International Bank UK Ltd Has $1.42 Million Position in Iron Mountain Incorporated $IRM

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Iron Mountain Incorporated by 27.5%, selling 6,275 shares to end the quarter with 16,554 shares valued at approximately $1.42 million.
• The company announced a quarterly dividend of $0.785 per share, reflecting a 3.4% dividend yield, with a high dividend payout ratio of 2,242.86%.
• Iron Mountain has received mixed analyst ratings, with targets from $100 to $121 and a consensus rating of Buy, while currently trading around $91.47.

Gulf International Bank UK Ltd reduced its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 27.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,554 shares of the financial services provider's stock after selling 6,275 shares during the quarter. Gulf International Bank UK Ltd's holdings in Iron Mountain were worth $1,424,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Townsquare Capital LLC raised its position in Iron Mountain by 2.0% during the fourth quarter. Townsquare Capital LLC now owns 10,331 shares of the financial services provider's stock valued at $1,086,000 after acquiring an additional 202 shares in the last quarter. Sagespring Wealth Partners LLC bought a new position in Iron Mountain during the fourth quarter valued at approximately $219,000. Mariner LLC raised its position in Iron Mountain by 6.8% during the fourth quarter. Mariner LLC now owns 49,834 shares of the financial services provider's stock valued at $5,238,000 after acquiring an additional 3,154 shares in the last quarter. XTX Topco Ltd bought a new position in Iron Mountain during the fourth quarter valued at approximately $223,000. Finally, Bridgewater Associates LP bought a new position in Iron Mountain during the fourth quarter valued at approximately $218,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $102.02, for a total transaction of $612,120.00. Following the transaction, the executive vice president owned 91,081 shares of the company's stock, valued at approximately $9,292,083.62. The trade was a 6.18% 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, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total transaction of $6,937,385.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 240,007 shares of company stock worth $23,543,507. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IRM. Barclays raised their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. Based on data from MarketBeat.com, Iron Mountain currently has a consensus rating of "Buy" and an average target price of $120.17.

Iron Mountain Stock Down 0.6%

Shares of NYSE:IRM traded down $0.54 during trading on Wednesday, reaching $91.02. The stock had a trading volume of 544,637 shares, compared to its average volume of 1,828,951. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The firm has a market capitalization of $26.88 billion, a price-to-earnings ratio of 649.92 and a beta of 1.07. The stock has a fifty day simple moving average of $98.21 and a two-hundred day simple moving average of $94.04.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results 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. 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 analyst estimates of $1.68 billion. During the same quarter last year, the firm posted $1.08 earnings per share. The company's quarterly revenue was up 11.6% compared to the same quarter last year. On average, analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be given a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a yield of 3.4%. Iron Mountain's payout ratio is 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.