Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Siemens Fonds Invest GmbH

Siemens Fonds Invest GmbH lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 91.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,767 shares of the financial services provider’s stock after selling 30,765 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Iron Mountain were worth $291,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Raiffeisen Bank International AG purchased a new position in shares of Iron Mountain during the 4th quarter worth $3,955,000. Point72 Asset Management L.P. lifted its stake in shares of Iron Mountain by 439.8% during the 4th quarter. Point72 Asset Management L.P. now owns 1,200,660 shares of the financial services provider’s stock worth $126,201,000 after purchasing an additional 978,251 shares during the period. Polar Asset Management Partners Inc. raised its position in shares of Iron Mountain by 227.5% in the 4th quarter. Polar Asset Management Partners Inc. now owns 141,500 shares of the financial services provider’s stock worth $14,873,000 after buying an additional 98,300 shares during the period. ProShare Advisors LLC raised its position in shares of Iron Mountain by 7.3% in the 4th quarter. ProShare Advisors LLC now owns 53,429 shares of the financial services provider’s stock worth $5,616,000 after buying an additional 3,630 shares during the period. Finally, Quantinno Capital Management LP raised its position in shares of Iron Mountain by 35.7% in the 4th quarter. Quantinno Capital Management LP now owns 21,135 shares of the financial services provider’s stock worth $2,222,000 after buying an additional 5,556 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Truist Financial assumed coverage on Iron Mountain in a research report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Barclays cut their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Finally, Wells Fargo & Company cut their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. One 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. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $121.29.

Insider Activity

In other news, CAO Daniel Borges sold 6,433 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the sale, the chief accounting officer now directly owns 288 shares in the company, valued at $26,737.92. This trade represents a 95.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,211,933.36. This represents a 11.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 318,973 shares of company stock worth $29,112,345 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

NYSE:IRM opened at $100.69 on Monday. The business’s 50-day moving average is $87.89 and its two-hundred day moving average is $99.97. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The firm has a market capitalization of $29.71 billion, a PE ratio of 165.06, a price-to-earnings-growth ratio of 5.15 and a beta of 1.08.

Iron Mountain (NYSE:IRM) last released 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 negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company posted $1.10 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. Equities analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be paid a dividend of $0.785 per share. The ex-dividend date is Monday, June 16th. This represents a $3.14 annualized dividend and a dividend yield of 3.12%. Iron Mountain’s dividend payout ratio is presently 765.85%.

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.