Van Lanschot Kempen Investment Management N.V. Takes $6.08 Million Position in Iron Mountain Incorporated $IRM

Key Points

• Van Lanschot Kempen Investment Management N.V. has invested approximately $6.08 million in Iron Mountain Incorporated by acquiring 70,641 shares during the first quarter.
• Analysts have differing views on Iron Mountain stock, with Barclays increasing their price target from $118.00 to $121.00 while JPMorgan lowered it from $112.00 to $100.00, maintaining an "overweight" rating.
• Iron Mountain declared a quarterly dividend of $0.785 per share, resulting in a yield of 3.4%, with an unusually high dividend payout ratio of 2,242.86%.

Van Lanschot Kempen Investment Management N.V. bought a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 70,641 shares of the financial services provider's stock, valued at approximately $6,078,000.

Several other large investors have also recently made changes to their positions in the company. Hsbc Holdings PLC increased its holdings in shares of Iron Mountain by 10.3% in the first quarter. Hsbc Holdings PLC now owns 819,862 shares of the financial services provider's stock worth $70,478,000 after purchasing an additional 76,314 shares during the last quarter. Korea Investment CORP grew its holdings in Iron Mountain by 68.5% during the 1st quarter. Korea Investment CORP now owns 335,070 shares of the financial services provider's stock valued at $28,829,000 after purchasing an additional 136,228 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in Iron Mountain by 44.7% during the 1st quarter. Aptus Capital Advisors LLC now owns 7,747 shares of the financial services provider's stock valued at $667,000 after purchasing an additional 2,393 shares during the last quarter. Brooklyn Investment Group grew its holdings in Iron Mountain by 15.7% during the 1st quarter. Brooklyn Investment Group now owns 2,954 shares of the financial services provider's stock valued at $254,000 after purchasing an additional 401 shares during the last quarter. Finally, Algert Global LLC bought a new position in Iron Mountain during the 1st quarter valued at about $2,712,000. 80.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a report on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. One investment 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 presently has a consensus rating of "Buy" and an average target price of $120.17.

Iron Mountain Stock Performance

Iron Mountain stock traded up $3.1970 during midday trading on Friday, hitting $93.7470. 1,166,349 shares of the company's stock were exchanged, compared to its average volume of 1,513,392. The company has a market cap of $27.69 billion, a PE ratio of 669.67 and a beta of 1.07. The firm has a 50-day moving average of $97.62 and a two-hundred day moving average of $93.83. 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 announced its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.05. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The firm's revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 earnings per share. As a group, equities analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be issued a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, September 15th. Iron Mountain's dividend payout ratio (DPR) is currently 2,242.86%.

Insiders Place Their Bets

In other news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total value of $612,120.00. Following the transaction, the executive vice president directly owned 91,081 shares of the company's stock, valued at approximately $9,292,083.62. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Greg W. Mcintosh sold 17,334 shares of the 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 completion of the transaction, the executive vice president directly owned 35,446 shares in the company, valued at $3,544,600. This represents a 32.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 231,609 shares of company stock worth $22,736,123 in the last three months. Insiders own 1.90% of the company's stock.

Iron Mountain 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.