IFM Investors Pty Ltd Sells 8,755 Shares of Iron Mountain Incorporated $IRM

Key Points

• IFM Investors Pty Ltd reduced its stake in Iron Mountain Inc by 7.1%, selling 8,755 shares during the first quarter, bringing their total ownership to 114,068 shares valued at approximately $9.81 million.
• Iron Mountain Inc reported a quarterly earnings per share of $1.24, exceeding analyst estimates, with revenue of $1.68 billion reflecting an 11.6% year-over-year increase.
• The company announced a $0.785 quarterly dividend with a yield of 3.2%, set to be paid to shareholders on October 3rd.

IFM Investors Pty Ltd lowered its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 114,068 shares of the financial services provider's stock after selling 8,755 shares during the period. IFM Investors Pty Ltd's holdings in Iron Mountain were worth $9,814,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Laird Norton Wetherby Wealth Management LLC increased its position in Iron Mountain by 3.2% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 9,230 shares of the financial services provider's stock worth $970,000 after buying an additional 289 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Iron Mountain by 5.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,618 shares of the financial services provider's stock worth $3,008,000 after buying an additional 1,421 shares in the last quarter. OMERS ADMINISTRATION Corp increased its position in Iron Mountain by 20.5% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 12,192 shares of the financial services provider's stock worth $1,282,000 after buying an additional 2,073 shares in the last quarter. Nuveen Asset Management LLC increased its position in Iron Mountain by 39.0% in the fourth quarter. Nuveen Asset Management LLC now owns 2,548,970 shares of the financial services provider's stock worth $267,922,000 after buying an additional 715,024 shares in the last quarter. Finally, NorthRock Partners LLC increased its position in Iron Mountain by 126.2% in the fourth quarter. NorthRock Partners LLC now owns 4,967 shares of the financial services provider's stock worth $522,000 after buying an additional 2,771 shares in the last quarter. Institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Performance

Shares of Iron Mountain stock traded down $2.01 during trading hours on Friday, hitting $96.82. The company's stock had a trading volume of 1,135,631 shares, compared to its average volume of 1,241,750. The company has a market cap of $28.60 billion, a PE ratio of 691.64 and a beta of 1.08. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The business has a 50 day moving average price of $94.93 and a two-hundred day moving average price of $93.37.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its 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. The company 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% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 earnings per share. As a group, research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The company 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 $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, September 15th. Iron Mountain's payout ratio is currently 2,242.86%.

Insider Transactions at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total value of $546,300.00. Following the sale, the executive vice president directly owned 79,081 shares in the company, valued at approximately $7,200,325.05. The trade was a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Greg W. Mcintosh sold 17,334 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total value of $1,733,400.00. Following the sale, the executive vice president directly owned 35,446 shares in the company, valued at $3,544,600. The trade was a 32.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 236,709 shares of company stock valued at $22,555,809 over the last three months. Corporate insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JPMorgan Chase & Co. reduced their price target on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Barclays boosted their price objective on Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a research report 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.com, the stock has a consensus rating of "Buy" and a consensus target price of $120.17.

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.