Pensionfund DSM Netherlands Sells 4,000 Shares of Iron Mountain Incorporated $IRM

Pensionfund DSM Netherlands decreased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 9.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,500 shares of the financial services provider’s stock after selling 4,000 shares during the quarter. Iron Mountain comprises 2.2% of Pensionfund DSM Netherlands’ holdings, making the stock its 13th largest holding. Pensionfund DSM Netherlands’ holdings in Iron Mountain were worth $3,313,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cranbrook Wealth Management LLC bought a new stake in Iron Mountain during the first quarter worth $26,000. Financial Network Wealth Advisors LLC bought a new stake in Iron Mountain during the first quarter worth $26,000. Golden State Wealth Management LLC bought a new stake in Iron Mountain during the first quarter worth $30,000. Ramirez Asset Management Inc. bought a new stake in Iron Mountain during the first quarter worth $34,000. Finally, Wayfinding Financial LLC bought a new stake in Iron Mountain during the first quarter worth $37,000. Institutional investors own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total transaction of $6,937,385.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction, the executive vice president directly owned 79,081 shares in the company, valued at $7,200,325.05. This represents a 7.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 236,709 shares of company stock worth $22,555,809 over the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Iron Mountain Price Performance

Shares of NYSE:IRM 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. The business has a fifty day moving average price of $94.93 and a two-hundred day moving average price of $93.37. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. The firm 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%.The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.08 EPS. Sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. Iron Mountain’s dividend payout ratio is currently 2,242.86%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays upped their price target on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. decreased their price target on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to data from MarketBeat.com, Iron Mountain currently has an average rating of “Buy” and an average target price of $120.17.

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.