IFM Investors Pty Ltd Decreases Stock Position in Iron Mountain Incorporated $IRM

IFM Investors Pty Ltd cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 7.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,068 shares of the financial services provider’s stock after selling 8,755 shares during the period. IFM Investors Pty Ltd’s holdings in Iron Mountain were worth $9,814,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IRM. Intech Investment Management LLC lifted its position in Iron Mountain by 6.8% in the first quarter. Intech Investment Management LLC now owns 448,761 shares of the financial services provider’s stock valued at $38,611,000 after acquiring an additional 28,561 shares during the last quarter. Focus Partners Wealth lifted its position in Iron Mountain by 22.4% in the first quarter. Focus Partners Wealth now owns 149,537 shares of the financial services provider’s stock valued at $12,895,000 after acquiring an additional 27,353 shares during the last quarter. Integrity Alliance LLC. purchased a new stake in Iron Mountain in the first quarter valued at $564,000. Aspen Investment Management Inc lifted its position in Iron Mountain by 9.7% in the first quarter. Aspen Investment Management Inc now owns 4,531 shares of the financial services provider’s stock valued at $390,000 after acquiring an additional 402 shares during the last quarter. Finally, Smith Asset Management Co. LLC purchased a new stake in Iron Mountain in the first quarter valued at $573,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $97.57 on Thursday. The firm has a market capitalization of $28.82 billion, a P/E ratio of 696.99 and a beta of 1.08. 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 is $95.07 and its two-hundred day moving average is $93.29.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data 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 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 firm’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. On average, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, September 15th. Iron Mountain’s dividend payout ratio is 2,242.86%.

Insider Activity

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total value of $546,300.00. Following the transaction, the executive vice president owned 79,081 shares in the company, valued at $7,200,325.05. This trade represents a 7.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated 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. Insiders have sold a total of 236,709 shares of company stock valued at $22,555,809 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on IRM. JPMorgan Chase & Co. lowered their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Barclays raised their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat, Iron Mountain presently has an average rating of “Buy” and a consensus price target of $120.17.

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.