Iron Mountain Incorporated $IRM Shares Purchased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 8.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 88,735 shares of the financial services provider’s stock after purchasing an additional 7,114 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Iron Mountain were worth $9,102,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IRM. Financial Network Wealth Advisors LLC acquired a new stake in Iron Mountain during the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC purchased a new position in Iron Mountain in the 1st quarter worth approximately $30,000. Ramirez Asset Management Inc. purchased a new position in Iron Mountain in the 1st quarter worth approximately $34,000. Wayfinding Financial LLC purchased a new position in Iron Mountain in the 1st quarter worth approximately $37,000. Finally, Richards Merrill & Peterson Inc. purchased a new position in Iron Mountain in the 1st quarter worth approximately $43,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total value of $546,300.00. Following the transaction, the executive vice president owned 79,081 shares in the company, valued at $7,200,325.05. This trade represents a 7.05% decrease in their ownership of the stock. 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 ninety days. 1.90% of the stock is owned by insiders.

Iron Mountain Trading Up 1.4%

Iron Mountain stock opened at $105.34 on Monday. The stock has a market cap of $31.11 billion, a P/E ratio of 752.50 and a beta of 1.06. The stock has a 50 day moving average of $98.96 and a 200-day moving average of $97.07. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week 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, topping the consensus estimate 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 analysts’ expectations of $1.68 billion. During the same period last year, the business posted $1.08 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were paid a dividend of $0.785 per share. The ex-dividend date was Monday, September 15th. This represents a $3.14 annualized dividend and a yield of 3.0%. Iron Mountain’s dividend payout ratio (DPR) is 2,242.86%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on IRM shares. Jefferies Financial Group started coverage on Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price target for 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. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a report on Saturday. Finally, JPMorgan Chase & Co. reduced their target price on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.83.

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.