UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Decreases Stock Position in Iron Mountain Incorporated $IRM

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 422,423 shares of the financial services provider’s stock after selling 3,800 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.14% of Iron Mountain worth $36,345,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cranbrook Wealth Management LLC acquired a new stake in shares of Iron Mountain during the first quarter worth about $26,000. Financial Network Wealth Advisors LLC purchased a new stake in Iron Mountain during the first quarter worth approximately $26,000. Golden State Wealth Management LLC acquired a new position in shares of Iron Mountain in the first quarter valued at approximately $30,000. Ramirez Asset Management Inc. purchased a new stake in shares of Iron Mountain in the first quarter valued at approximately $34,000. Finally, Wayfinding Financial LLC purchased a new stake in Iron Mountain during the first quarter worth $37,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Up 3.3%

IRM opened at $99.93 on Tuesday. The firm has a market capitalization of $29.51 billion, a P/E ratio of 713.83 and a beta of 1.08. The stock’s 50 day moving average price is $94.92 and its two-hundred day moving average price is $93.43. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last released its earnings results 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. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the firm posted $1.08 EPS. The company’s revenue was up 11.6% on a year-over-year basis. As a group, analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be issued a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is presently 2,242.86%.

Insider Transactions at Iron Mountain

In related news, EVP Greg W. Mcintosh sold 17,334 shares of the business’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total value of $1,733,400.00. Following the sale, the executive vice president owned 35,446 shares of the company’s stock, valued at $3,544,600. The trade was a 32.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $89.56, for a total value of $6,190,835.00. The disclosure for this sale can be found here. Insiders sold a total of 236,709 shares of company stock worth $22,555,809 over the last quarter. 1.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

IRM has been the subject of several analyst reports. 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. JPMorgan Chase & Co. lowered their price target 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. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price 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.