Voya Investment Management LLC Cuts Stake in Iron Mountain Incorporated $IRM

Voya Investment Management LLC trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 134,366 shares of the financial services provider’s stock after selling 2,975 shares during the quarter. Voya Investment Management LLC’s holdings in Iron Mountain were worth $11,561,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of IRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Iron Mountain by 5.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,618 shares of the financial services provider’s stock valued at $3,008,000 after acquiring an additional 1,421 shares during the period. Quantinno Capital Management LP increased its holdings in 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 acquiring an additional 5,556 shares in the last quarter. Toronto Dominion Bank increased its holdings in Iron Mountain by 8.8% in the 4th quarter. Toronto Dominion Bank now owns 158,877 shares of the financial services provider’s stock worth $16,700,000 after acquiring an additional 12,801 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in Iron Mountain in the 4th quarter worth approximately $809,000. Finally, Twinbeech Capital LP purchased a new stake in Iron Mountain in the 4th quarter worth approximately $956,000. Institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IRM. Barclays increased their target price on shares of 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. cut their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $120.17.

Insider Activity at Iron Mountain

In other news, EVP Greg W. Mcintosh sold 17,334 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the completion of the sale, the executive vice president directly owned 35,446 shares of the company’s stock, valued at approximately $3,544,600. The trade was a 32.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction 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 valued at $22,555,809 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Iron Mountain Stock Up 0.5%

Shares of IRM opened at $100.33 on Wednesday. The company has a market cap of $29.63 billion, a PE ratio of 716.69 and a beta of 1.08. The business has a fifty day moving average of $94.93 and a 200 day moving average of $93.48. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. The company 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%.Iron Mountain’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $1.08 earnings per share. As a group, research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. Iron Mountain’s payout ratio is currently 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.