Natixis Advisors LLC Decreases Position in Iron Mountain Incorporated (NYSE:IRM)

Key Points

• Natixis Advisors LLC has reduced its stake in Iron Mountain Incorporated by 16.3%, selling 32,686 shares and now owning approximately 167,828 shares valued at $14.4 million.
• Multiple institutional investors have increased their holdings in Iron Mountain, with Northern Trust Corp boosting its stake by 56.1% during the last quarter.
• Iron Mountain's stock recently experienced a decline of 3.4%, and its P/E ratio stands at 229.46 with a market capitalization of $27.76 billion.

Natixis Advisors LLC lowered its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 16.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 167,828 shares of the financial services provider's stock after selling 32,686 shares during the period. Natixis Advisors LLC owned 0.06% of Iron Mountain worth $14,440,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NorthRock Partners LLC boosted its holdings in shares of Iron Mountain by 2.6% during the first quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider's stock worth $440,000 after acquiring an additional 131 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of Iron Mountain in the first quarter valued at approximately $2,049,000. Meeder Advisory Services Inc. raised its position in Iron Mountain by 6.1% during the first quarter. Meeder Advisory Services Inc. now owns 3,229 shares of the financial services provider's stock valued at $278,000 after purchasing an additional 187 shares in the last quarter. Ramirez Asset Management Inc. acquired a new position in Iron Mountain during the first quarter valued at approximately $34,000. Finally, Foundations Investment Advisors LLC raised its position in Iron Mountain by 45.4% during the first quarter. Foundations Investment Advisors LLC now owns 12,513 shares of the financial services provider's stock valued at $1,077,000 after purchasing an additional 3,906 shares in the last quarter. Institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Down 1.0%

IRM traded down $0.96 during trading on Friday, reaching $90.88. 900,357 shares of the stock traded hands, compared to its average volume of 1,857,205. The stock's 50-day moving average is $99.66 and its 200 day moving average is $94.90. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The stock has a market capitalization of $26.81 billion, a PE ratio of 649.12 and a beta of 1.07.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the business earned $1.08 earnings per share. The business's quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, September 15th. Iron Mountain's dividend payout ratio is currently 2,242.86%.

Analyst Ratings Changes

IRM has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Barclays boosted their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Iron Mountain currently has a consensus rating of "Buy" and an average target price of $120.00.

Insider Buying and Selling at Iron Mountain

In related news, EVP Greg W. Mcintosh sold 17,334 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total value of $1,733,400.00. Following the sale, the executive vice president owned 35,446 shares in the company, valued at $3,544,600. This represents a 32.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the 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. Over the last 90 days, insiders have sold 240,007 shares of company stock worth $23,543,507. 1.90% of the stock is currently owned by insiders.

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.