Voya Investment Management LLC Sells 2,975 Shares of Iron Mountain Incorporated $IRM

Key Points

• Voya Investment Management LLC reduced its stake in Iron Mountain (IRM) by 2.2% during the first quarter, holding approximately 134,366 shares valued at $11.56 million.
• Iron Mountain has recently been targeted for upgrades and downgrades, with Barclays raising its price target to $122.00 and JPMorgan lowering it to $100.00, reflecting mixed analyst sentiment.
• The company recently announced a quarterly dividend of $0.785 per share, indicating a significant payout ratio of 2,242.86%, highlighting their commitment to returning value to shareholders.

Voya Investment Management LLC lowered its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 134,366 shares of the financial services provider's stock after selling 2,975 shares during the quarter. Voya Investment Management LLC's holdings in Iron Mountain were worth $11,561,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Cranbrook Wealth Management LLC bought a new stake in Iron Mountain in the first quarter worth about $26,000. Financial Network Wealth Advisors LLC acquired a new stake in shares of Iron Mountain during the first quarter worth approximately $26,000. Golden State Wealth Management LLC acquired a new stake in shares of Iron Mountain during the first quarter worth approximately $30,000. Ramirez Asset Management Inc. acquired a new stake in shares of Iron Mountain during the first quarter worth approximately $34,000. Finally, Wayfinding Financial LLC acquired a new position in Iron Mountain in the first quarter worth approximately $37,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Analyst Ratings Changes

IRM has been the subject of several research analyst reports. Barclays boosted 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 objective on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $120.17.

Iron Mountain Stock Performance

Shares of IRM stock traded up $0.98 on Friday, hitting $99.90. The company's stock had a trading volume of 3,124,238 shares, compared to its average volume of 1,344,872. The stock's 50 day moving average is $94.98 and its 200-day moving average is $93.66. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The company has a market capitalization of $29.51 billion, a PE ratio of 713.62 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS 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 business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the company posted $1.08 earnings per share. Iron Mountain's revenue was up 11.6% compared to the same quarter last year. On average, research analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. Iron Mountain's payout ratio is 2,242.86%.

Insider Buying and Selling

In related news, EVP Mark Kidd sold 6,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was 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 owned 79,081 shares of the company's stock, valued at $7,200,325.05. The trade was a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Greg W. Mcintosh sold 17,334 shares of the business'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 completion of the transaction, the executive vice president directly owned 35,446 shares of the company's stock, valued at approximately $3,544,600. This trade represents a 32.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 236,709 shares of company stock worth $22,555,809 in the last ninety days. 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.