AG2R LA Mondiale Gestion D Actifs Buys Shares of 15,836 Iron Mountain Incorporated $IRM

AG2R LA Mondiale Gestion D Actifs bought a new stake in Iron Mountain Incorporated (NYSE:IRM) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 15,836 shares of the financial services provider’s stock, valued at approximately $1,363,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IRM. Nuveen LLC acquired a new stake in Iron Mountain in the 1st quarter valued at approximately $192,231,000. Contour Asset Management LLC acquired a new stake in Iron Mountain in the 1st quarter valued at approximately $122,801,000. Goldman Sachs Group Inc. grew its holdings in Iron Mountain by 86.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock valued at $169,922,000 after buying an additional 913,715 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Iron Mountain by 117.7% in the 1st quarter. Principal Financial Group Inc. now owns 904,184 shares of the financial services provider’s stock valued at $77,796,000 after buying an additional 488,816 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Iron Mountain in the 4th quarter valued at approximately $39,687,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Price Performance

Iron Mountain stock opened at $96.82 on Friday. The company has a market capitalization of $28.60 billion, a PE ratio of 691.64 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 business has a 50 day simple moving average of $94.93 and a 200 day simple moving average of $93.37.

Iron Mountain (NYSE:IRM) last posted 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 business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.Iron Mountain’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $1.08 EPS. Equities analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be given a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is 2,242.86%.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $89.56, for a total transaction of $6,190,835.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the executive vice president owned 79,081 shares of the company’s stock, valued at approximately $7,200,325.05. The trade was a 7.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 236,709 shares of company stock worth $22,555,809 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IRM. JPMorgan Chase & Co. decreased their price objective on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Barclays lifted their price objective on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, Iron Mountain has an average rating of “Buy” and a consensus price target of $120.17.

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.