AG2R LA Mondiale Gestion D Actifs Acquires 502 Shares of Iron Mountain Incorporated $IRM

AG2R LA Mondiale Gestion D Actifs increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,338 shares of the financial services provider’s stock after buying an additional 502 shares during the quarter. AG2R LA Mondiale Gestion D Actifs’ holdings in Iron Mountain were worth $1,676,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nuveen LLC bought a new position in shares of Iron Mountain in the first quarter worth about $192,231,000. Contour Asset Management LLC acquired a new position in Iron Mountain during the 1st quarter worth about $122,801,000. Goldman Sachs Group Inc. lifted its holdings in Iron Mountain by 86.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock worth $169,922,000 after buying an additional 913,715 shares during the period. Principal Financial Group Inc. lifted its holdings in Iron Mountain by 117.7% during the 1st quarter. Principal Financial Group Inc. now owns 904,184 shares of the financial services provider’s stock worth $77,796,000 after buying an additional 488,816 shares during the period. Finally, Invesco Ltd. lifted its holdings in Iron Mountain by 14.7% during the 1st quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider’s stock worth $245,124,000 after buying an additional 366,134 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Performance

IRM stock opened at $105.34 on Friday. The stock’s 50 day simple moving average is $98.96 and its 200 day simple moving average is $96.98. 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 cap of $31.11 billion, a P/E ratio of 752.50 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.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 business earned $1.08 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have commented on IRM shares. Jefferies Financial Group started coverage on Iron Mountain in a report on Monday, September 22nd. They set a “buy” rating and a $120.00 target price on the stock. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Barclays boosted their price objective on Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. dropped their price objective 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $116.83.

Insider Buying and Selling

In related news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total transaction of $546,300.00. Following the transaction, the executive vice president directly owned 79,081 shares of the company’s stock, valued at approximately $7,200,325.05. This represents a 7.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 that occurred on Friday, August 1st. The stock was sold at an average price of $94.55, for a total value of $6,535,768.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,375 shares of company stock valued at $20,347,156. 1.90% of the stock is owned by company insiders.

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.