Commerzbank Aktiengesellschaft FI Acquires Shares of 2,280 Iron Mountain Incorporated $IRM

Commerzbank Aktiengesellschaft FI bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,280 shares of the financial services provider’s stock, valued at approximately $234,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in Iron Mountain by 4.0% in the first quarter. Farther Finance Advisors LLC now owns 4,773 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 185 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Iron Mountain by 3.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 11,538 shares of the financial services provider’s stock valued at $993,000 after buying an additional 388 shares during the period. American Institute for Advanced Investment Management LLP grew its position in shares of Iron Mountain by 6.6% during the 1st quarter. American Institute for Advanced Investment Management LLP now owns 10,870 shares of the financial services provider’s stock valued at $935,000 after buying an additional 670 shares during the last quarter. Dynamic Advisor Solutions LLC raised its stake in Iron Mountain by 25.2% during the first quarter. Dynamic Advisor Solutions LLC now owns 3,075 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 619 shares during the period. Finally, CHB Investment Group LLC lifted its holdings in Iron Mountain by 1.2% in the first quarter. CHB Investment Group LLC now owns 29,175 shares of the financial services provider’s stock worth $2,510,000 after acquiring an additional 357 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on IRM shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday. Jefferies Financial Group began coverage on Iron Mountain in a research note on Monday, September 22nd. They set a “buy” rating and a $120.00 price objective for the company. JPMorgan Chase & Co. cut their target price on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Finally, Barclays upped their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $116.83.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total transaction of $7,074,252.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $94.55, for a total value of $6,535,768.75. The disclosure for this sale can be found here. Insiders have sold 213,375 shares of company stock worth $20,347,156 over the last quarter. 1.90% of the stock is currently owned by company insiders.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $101.98 on Friday. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The company has a market capitalization of $30.12 billion, a P/E ratio of 728.48 and a beta of 1.06. The business’s fifty day moving average price is $96.49 and its two-hundred day moving average price is $95.44.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $1.08 earnings per share. On average, research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

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

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.