Iron Mountain Incorporated $IRM Shares Sold by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. reduced its stake in Iron Mountain by 18.7%, selling 16,920 shares, leaving it with a total of 73,681 shares valued at approximately $7.56 million.
• Despite a decrease in some institutional holdings, Iron Mountain reported a quarterly revenue increase of 11.6% compared to the previous year, with earnings per share exceeding consensus estimates.
• The company announced a quarterly dividend of $0.785 per share, yielding 3.0%, with an exceptionally high dividend payout ratio of 2,242.86%.

ASR Vermogensbeheer N.V. cut its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 18.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,681 shares of the financial services provider's stock after selling 16,920 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Iron Mountain were worth $7,557,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of 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 worth $4,028,886,000 after buying an additional 220,564 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Iron Mountain by 0.9% during the 1st 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. raised its stake in Iron Mountain by 14.7% during the first quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider's stock worth $245,124,000 after acquiring an additional 366,134 shares during the period. Nuveen LLC bought a new position in Iron Mountain in the first quarter worth about $192,231,000. Finally, JPMorgan Chase & Co. lifted its holdings in Iron Mountain by 17.8% in the first 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.

Iron Mountain Trading Up 1.1%

Shares of NYSE:IRM opened at $103.36 on Friday. The company has a 50 day moving average of $95.61 and a 200-day moving average of $94.69. The firm has a market cap of $30.53 billion, a P/E ratio of 738.34 and a beta of 1.06. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS 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 analysts' expectations 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 quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.08 earnings per share. Equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS 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 paid a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.14 annualized dividend and a yield of 3.0%. Iron Mountain's dividend payout ratio (DPR) is currently 2,242.86%.

Analyst Ratings Changes

IRM has been the subject of several recent research reports. 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. Jefferies Financial Group assumed coverage on Iron Mountain in a research note on Monday, September 22nd. They set a "buy" rating and a $120.00 price objective for the company. Finally, Barclays raised their target price 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 given a Buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $116.83.

Insider Buying and Selling

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were 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 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 dated Friday, August 1st. The shares were sold at an average price of $94.55, for a total transaction of $6,535,768.75. The disclosure for this sale can be found here. Insiders have sold a total of 144,250 shares of company stock valued at $13,272,904 over the last three months. Company insiders own 1.90% of the company's stock.

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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