Iron Mountain Incorporated $IRM Stock Sold by Candriam S.C.A.

Candriam S.C.A. lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 9.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,320 shares of the financial services provider’s stock after selling 4,955 shares during the quarter. Candriam S.C.A.’s holdings in Iron Mountain were worth $5,269,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in IRM. BlackRock Inc. purchased a new stake in Iron Mountain during the second quarter worth about $4,240,342,000. Principal Financial Group Inc. grew its position in Iron Mountain by 8.5% during the first quarter. Principal Financial Group Inc. now owns 4,566,093 shares of the financial services provider’s stock worth $466,382,000 after buying an additional 358,497 shares during the period. Dimensional Fund Advisors LP grew its position in Iron Mountain by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,552,286 shares of the financial services provider’s stock worth $464,931,000 after buying an additional 122,927 shares during the period. Legal & General Group Plc purchased a new position in Iron Mountain in the second quarter valued at about $409,843,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Iron Mountain by 29,674.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,193,560 shares of the financial services provider’s stock valued at $403,379,000 after buying an additional 3,182,834 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IRM. Barclays lifted their price target on shares of Iron Mountain from $143.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, September 8th. Wall Street Zen cut Iron Mountain from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Rothschild & Co Redburn assumed coverage on Iron Mountain in a report on Monday, September 21st. They issued a “buy” rating and a $132.00 price target on the stock. Wells Fargo & Company raised their price objective on Iron Mountain from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Truist Financial lifted their price objective on Iron Mountain from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, August 27th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and a consensus target price of $141.33.

Iron Mountain Stock Down 0.1%

Iron Mountain stock opened at $110.73 on Wednesday. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $134.68. The firm’s 50-day simple moving average is $113.52 and its 200 day simple moving average is $115.55. The firm has a market capitalization of $32.98 billion, a PE ratio of 72.37 and a beta of 1.18.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, November 5th. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. Iron Mountain had a net margin of 5.88% and a negative return on equity of 79.98%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the firm posted $1.32 EPS. On average, research analysts expect that Iron Mountain Incorporated will post 5.42 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 6th. Stockholders of record on Tuesday, December 15th will be given a $0.9930 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.8640. This represents a $3.97 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, December 15th. Iron Mountain’s dividend payout ratio (DPR) is currently 226.14%.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 38,474 shares of the firm’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $105.72, for a total transaction of $4,067,471.28. Following the completion of the transaction, the chief executive officer owned 38,474 shares of the company’s stock, valued at approximately $4,067,471.28. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $115.60, for a total value of $693,600.00. Following the completion of the transaction, the executive vice president directly owned 95,507 shares of the company’s stock, valued at approximately $11,040,609.20. This trade represents a 5.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 136,422 shares of company stock worth $15,116,038 over the last ninety days. 1.70% of the stock is currently owned by insiders.

Iron Mountain Company Profile

Iron Mountain Incorporated is an information management and storage company that helps organizations protect, manage and access physical and digital assets. Its services include records storage and management, secure document shredding, digitization and other information-management solutions. The company also operates data centers and provides services for businesses moving, storing and managing data. Its offerings extend to specialized storage and care for items such as artwork and other valuable collections.