Raiffeisen Bank International AG Acquires Shares of 38,143 Iron Mountain Incorporated (NYSE:IRM)

Raiffeisen Bank International AG acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 38,143 shares of the financial services provider’s stock, valued at approximately $3,955,000.

Other hedge funds have also recently bought and sold shares of the company. IMG Wealth Management Inc. bought a new position in Iron Mountain in the 4th quarter valued at $26,000. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain in the 4th quarter valued at $26,000. Key Financial Inc boosted its position in Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after buying an additional 251 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after buying an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. bought a new position in Iron Mountain in the 4th quarter valued at $53,000. 80.13% of the stock is currently owned by institutional investors.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the completion of the transaction, the chief executive officer now owns 237,402 shares in the company, valued at approximately $21,681,924.66. This trade represents a 42.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $96.09, for a total value of $6,642,221.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 318,973 shares of company stock valued at $29,112,345. 2.10% of the stock is owned by insiders.

Iron Mountain Trading Up 2.3%

IRM stock opened at $99.38 on Friday. The business’s 50-day moving average price is $87.57 and its two-hundred day moving average price is $100.51. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The firm has a market cap of $29.32 billion, a PE ratio of 162.92, a P/E/G ratio of 5.15 and a beta of 1.08.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (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 firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the business posted $1.10 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Monday, June 16th. Iron Mountain’s dividend payout ratio is currently 765.85%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IRM. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Truist Financial assumed coverage on Iron Mountain in a research report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price target on the stock. Barclays reduced their price target 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. JPMorgan Chase & Co. reduced their price target 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. Finally, Wells Fargo & Company reduced their price target 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 given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $121.29.

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.