Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 0.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,126,012 shares of the financial services provider's stock after purchasing an additional 3,512 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.38% of Iron Mountain worth $95,072,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IRM. Proficio Capital Partners LLC purchased a new stake in Iron Mountain during the 4th quarter valued at $102,000. Raymond James Financial Inc. purchased a new stake in Iron Mountain during the 4th quarter valued at $55,271,000. Callan Family Office LLC purchased a new stake in Iron Mountain during the 4th quarter valued at $364,000. PNC Financial Services Group Inc. increased its stake in Iron Mountain by 6.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 57,194 shares of the financial services provider's stock worth $6,012,000 after purchasing an additional 3,317 shares during the period. Finally, Johnson Investment Counsel Inc. increased its stake in Iron Mountain by 58.1% in the fourth quarter. Johnson Investment Counsel Inc. now owns 3,231 shares of the financial services provider's stock worth $340,000 after purchasing an additional 1,188 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Trading Down 1.0%

Shares of Iron Mountain stock traded down $1.03 during trading on Friday, hitting $97.93. 1,057,349 shares of the stock traded hands, compared to its average volume of 1,785,140. The firm has a market cap of $28.89 billion, a P/E ratio of 238.85 and a beta of 1.08. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The stock's fifty day simple moving average is $99.85 and its 200 day simple moving average is $95.90.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.16 by $0.01. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the firm posted $1.10 earnings per share. The business's revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 16th were given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Monday, June 16th. Iron Mountain's payout ratio is currently 765.85%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Barclays increased their target price on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Truist Financial assumed coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price on the stock. Finally, Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong 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 $121.71.

Insider Buying and Selling

In related news, EVP Greg W. Mcintosh sold 17,334 shares of the firm'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 sale, the executive vice president owned 35,446 shares of the company's stock, valued at $3,544,600. This trade represents a 32.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total value of $6,937,385.00. The disclosure for this sale can be found here. Insiders sold 240,007 shares of company stock worth $23,649,959 in the last three months. 1.90% of the stock is owned by company insiders.

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.