Iron Mountain Incorporated $IRM Shares Sold by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS AM has decreased its position in Iron Mountain Incorporated by 0.9%, owning 422,423 shares worth approximately $36.35 million.
• Iron Mountain's stock price increased by 3.3% and the company reported earnings per share of $1.24, surpassing analysts' expectations.
• The company announced a quarterly dividend of $0.785 per share, with an annualized yield of 3.1% and a significant dividend payout ratio of 2,242.86%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC cut its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 422,423 shares of the financial services provider's stock after selling 3,800 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.14% of Iron Mountain worth $36,345,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Nuveen LLC bought a new stake in shares of Iron Mountain in the 1st quarter valued at approximately $192,231,000. Contour Asset Management LLC acquired a new stake in shares of Iron Mountain in the first quarter worth $122,801,000. Goldman Sachs Group Inc. lifted its position in Iron Mountain by 86.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider's stock worth $169,922,000 after purchasing an additional 913,715 shares during the period. Principal Financial Group Inc. lifted its position in Iron Mountain by 117.7% in the first quarter. Principal Financial Group Inc. now owns 904,184 shares of the financial services provider's stock worth $77,796,000 after purchasing an additional 488,816 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Iron Mountain during the fourth quarter valued at $39,687,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on IRM shares. Barclays lifted their price objective on Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. 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 note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $120.17.

Iron Mountain Stock Up 1.0%

Shares of NYSE:IRM traded up $0.98 during midday trading on Friday, reaching $99.90. 3,124,238 shares of the company traded hands, compared to its average volume of 1,344,872. The firm's fifty day moving average price is $94.98 and its two-hundred day moving average price is $93.66. The firm has a market capitalization of $29.51 billion, a price-to-earnings ratio of 713.62 and a beta of 1.08. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.Iron Mountain's revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.08 earnings per share. Analysts forecast 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. Investors of record on Monday, September 15th will be given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, September 15th. Iron Mountain's payout ratio is currently 2,242.86%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $89.56, for a total value of $6,190,835.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 236,709 shares of company stock worth $22,555,809. Company insiders own 1.90% of the company's stock.

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.