Robeco Institutional Asset Management B.V. Cuts Stock Position in Iron Mountain Incorporated $IRM

Robeco Institutional Asset Management B.V. lessened its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 27.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,725 shares of the financial services provider's stock after selling 5,481 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Iron Mountain were worth $1,510,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in IRM. Whittier Trust Co. increased its stake in Iron Mountain by 3.4% during the 1st quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider's stock worth $281,000 after buying an additional 108 shares during the period. Cooper Financial Group increased its stake in Iron Mountain by 3.7% during the 2nd quarter. Cooper Financial Group now owns 3,155 shares of the financial services provider's stock worth $324,000 after buying an additional 113 shares during the period. Stratos Wealth Partners LTD. increased its stake in Iron Mountain by 3.7% during the 1st quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider's stock worth $285,000 after buying an additional 118 shares during the period. Diversify Advisory Services LLC increased its stake in 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 buying an additional 123 shares during the period. Finally, NorthRock Partners LLC increased its stake in Iron Mountain by 2.6% during 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. Hedge funds and other institutional investors own 80.13% of the company's stock.

Insider Activity

In other news, EVP Mark Kidd sold 6,000 shares of Iron Mountain 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 completion of the transaction, the executive vice president directly owned 79,081 shares of the company's stock, valued at approximately $7,200,325.05. The trade was a 7.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain 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. In the last three months, insiders sold 213,375 shares of company stock valued at $20,347,156. Company insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Jefferies Financial Group assumed coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They set a "buy" rating and a $120.00 price target on the stock. 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. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Iron Mountain in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Iron Mountain currently has an average rating of "Buy" and a consensus price target of $116.83.

Iron Mountain Stock Performance

IRM opened at $105.87 on Wednesday. The company has a 50-day moving average of $96.02 and a 200-day moving average of $95.11. The company has a market capitalization of $31.27 billion, a P/E ratio of 756.30 and a beta of 1.06. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24.

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

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were issued a $0.785 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.14 annualized dividend and a dividend yield of 3.0%. Iron Mountain's payout ratio 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.