Allianz Asset Management GmbH Decreases Stock Holdings in Iron Mountain Incorporated $IRM

Allianz Asset Management GmbH reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 18.2% in the 2nd quarter, Holdings Channel reports. The firm owned 45,186 shares of the financial services provider’s stock after selling 10,064 shares during the quarter. Allianz Asset Management GmbH’s holdings in Iron Mountain were worth $4,635,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. increased its stake in shares of Iron Mountain by 3.4% in the 1st quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 108 shares during the last quarter. Cooper Financial Group boosted its holdings in Iron Mountain by 3.7% during the 2nd quarter. Cooper Financial Group now owns 3,155 shares of the financial services provider’s stock valued at $324,000 after acquiring an additional 113 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of Iron Mountain by 3.7% during the first quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider’s stock worth $285,000 after buying an additional 118 shares in the last quarter. Diversify Advisory Services LLC grew its position in shares of Iron Mountain by 1.9% during the first quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider’s stock worth $572,000 after buying an additional 123 shares in the last quarter. Finally, NorthRock Partners LLC raised its position in shares of Iron Mountain by 2.6% during the 1st quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider’s stock worth $440,000 after acquiring an additional 131 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the company’s 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 213,375 shares of company stock worth $20,347,156. 1.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Jefferies Financial Group started coverage on Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price on the stock. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Finally, Barclays upped their target price on Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.83.

Iron Mountain Stock Down 0.0%

NYSE:IRM opened at $103.93 on Friday. The business’s 50 day moving average is $98.68 and its two-hundred day moving average is $96.64. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The company has a market cap of $30.70 billion, a PE ratio of 742.44 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.05. The business had revenue of $1.68 billion for 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%.The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

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

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.