Iron Mountain Incorporated $IRM Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,122,500 shares of the financial services provider’s stock after selling 3,512 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.38% of Iron Mountain worth $114,825,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IRM. Nuveen LLC acquired a new stake in shares of Iron Mountain during the first quarter valued at about $192,231,000. Contour Asset Management LLC bought a new position in shares of Iron Mountain during the first quarter worth about $122,801,000. Goldman Sachs Group Inc. lifted its holdings 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 acquiring an additional 913,715 shares during the last quarter. Principal Financial Group Inc. lifted its holdings 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 acquiring an additional 488,816 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Iron Mountain by 14.7% in the first quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider’s stock worth $245,124,000 after acquiring an additional 366,134 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on IRM shares. Barclays raised their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Zacks Research lowered shares of Iron Mountain from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Jefferies Financial Group assumed coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price 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 analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $116.83.

Insider Transactions at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total transaction of $546,300.00. Following the transaction, the executive vice president owned 79,081 shares in the company, valued at approximately $7,200,325.05. The trade was a 7.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the company’s 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 90 days, insiders have sold 213,375 shares of company stock worth $20,347,156. 1.90% of the stock is currently owned by company insiders.

Iron Mountain Price Performance

Shares of IRM opened at $105.74 on Tuesday. The company has a market capitalization of $31.23 billion, a PE ratio of 755.34 and a beta of 1.06. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The company’s fifty day moving average price is $97.99 and its 200 day moving average price is $96.35.

Iron Mountain (NYSE:IRM) last announced its earnings results 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 firm had revenue of $1.68 billion for 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 business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 EPS. Analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were issued a dividend of $0.785 per share. The ex-dividend date was Monday, September 15th. This represents a $3.14 annualized dividend and a dividend yield of 3.0%. Iron Mountain’s payout ratio is presently 2,242.86%.

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.