Raiffeisen Bank International AG Invests $3.96 Million in Iron Mountain Incorporated (NYSE:IRM)

Raiffeisen Bank International AG acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 38,143 shares of the financial services provider’s stock, valued at approximately $3,955,000.

A number of other institutional investors also recently made changes to their positions in IRM. Wealthfront Advisers LLC boosted its holdings in shares of Iron Mountain by 9,843.3% during the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock worth $721,562,000 after acquiring an additional 6,795,792 shares during the period. Norges Bank bought a new stake in shares of Iron Mountain during the fourth quarter worth approximately $348,249,000. Northern Trust Corp boosted its holdings in shares of Iron Mountain by 56.1% during the fourth quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider’s stock worth $454,756,000 after acquiring an additional 1,554,746 shares during the period. TD Asset Management Inc. boosted its holdings in shares of Iron Mountain by 125.4% during the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock worth $205,220,000 after acquiring an additional 1,086,308 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Iron Mountain by 439.8% during the fourth quarter. Point72 Asset Management L.P. now owns 1,200,660 shares of the financial services provider’s stock worth $126,201,000 after acquiring an additional 978,251 shares during the period. Institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on IRM shares. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday, April 18th. Truist Financial began coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price target for the company. Wells Fargo & Company cut their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Barclays cut their price target on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. cut their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Iron Mountain has a consensus rating of “Buy” and an average price target of $121.29.

Iron Mountain Price Performance

Shares of IRM opened at $99.38 on Friday. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The company has a market cap of $29.32 billion, a P/E ratio of 162.92, a P/E/G ratio of 5.15 and a beta of 1.08. The firm has a 50 day simple moving average of $87.57 and a two-hundred day simple moving average of $100.51.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.16 by $0.01. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the business earned $1.10 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. On average, analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be given a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 annualized dividend and a yield of 3.16%. Iron Mountain’s dividend payout ratio is currently 765.85%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the transaction, the chief accounting officer now directly owns 288 shares in the company, valued at $26,737.92. The trade was a 95.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total transaction of $5,952,353.75. The disclosure for this sale can be found here. Insiders sold a total of 318,973 shares of company stock worth $29,112,345 over the last three months. Corporate insiders own 2.10% of the company’s stock.

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.