Iron Mountain Incorporated $IRM Stake Reduced by James Hambro & Partners LLP

Key Points

• James Hambro & Partners LLP significantly reduced its stake in Iron Mountain Incorporated by 78.8%, selling 24,110 shares and retaining only 6,502 shares valued at $667,000.
• Iron Mountain's recent earnings report showed a net margin of 0.66% and revenue growth of 11.6% year-over-year, surpassing analysts' estimates.
• The company announced a quarterly dividend of $0.785 per share, resulting in a dividend yield of 3.1%, set to be paid to shareholders on October 3rd.

James Hambro & Partners LLP cut its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 78.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,502 shares of the financial services provider's stock after selling 24,110 shares during the period. James Hambro & Partners LLP's holdings in Iron Mountain were worth $667,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of IRM. 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 during the period. Stratos Wealth Partners LTD. boosted its holdings in Iron Mountain by 3.7% during 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 during the period. Diversify Advisory Services LLC lifted its position in shares of Iron Mountain by 1.9% during the 1st quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider's stock worth $572,000 after purchasing an additional 123 shares during the last quarter. NorthRock Partners LLC increased its position in Iron Mountain by 2.6% in the 1st quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider's stock worth $440,000 after buying an additional 131 shares during the period. Finally, Financial Management Professionals Inc. grew its stake in shares of Iron Mountain by 2.6% in the first quarter. Financial Management Professionals Inc. now owns 5,574 shares of the financial services provider's stock worth $480,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 80.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on IRM shares. Jefferies Financial Group initiated coverage on shares of Iron Mountain in a report on Monday, September 22nd. They set a "buy" rating and a $120.00 price objective on the stock. JPMorgan Chase & Co. lowered their price target on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Finally, Barclays lifted their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a research note 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 stock. According to data from MarketBeat.com, Iron Mountain presently has a consensus rating of "Buy" and an average target price of $116.83.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $89.56, for a total transaction of $6,190,835.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 236,709 shares of company stock worth $22,555,809. 1.90% of the stock is owned by insiders.

Iron Mountain Stock Up 0.3%

Shares of NYSE IRM opened at $101.11 on Friday. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The firm's 50-day simple moving average is $95.38 and its 200 day simple moving average is $94.33. The company has a market cap of $29.86 billion, a price-to-earnings ratio of 722.24 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The company's revenue was up 11.6% on a year-over-year basis. On average, equities analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be paid a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. Iron Mountain's dividend payout ratio (DPR) is 2,242.86%.

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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