Iron Mountain Incorporated (NYSE:IRM) Shares Bought by Natixis Advisors L.P.

Posted by Defense World Staff on Apr 15th, 2023

Natixis Advisors L.P. boosted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 129,999 shares of the financial services provider’s stock after buying an additional 4,710 shares during the quarter. Natixis Advisors L.P.’s holdings in Iron Mountain were worth $6,480,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in IRM. Pictet Asset Management SA lifted its holdings in Iron Mountain by 40.6% during the 3rd quarter. Pictet Asset Management SA now owns 4,030,490 shares of the financial services provider’s stock worth $177,221,000 after buying an additional 1,163,745 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Iron Mountain by 8,675,800.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 867,590 shares of the financial services provider’s stock valued at $38,148,000 after purchasing an additional 867,580 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Iron Mountain by 1,442.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 835,796 shares of the financial services provider’s stock valued at $36,722,000 after purchasing an additional 781,609 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Iron Mountain by 744.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 880,609 shares of the financial services provider’s stock valued at $38,373,000 after purchasing an additional 776,302 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its holdings in shares of Iron Mountain by 122.7% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,367,319 shares of the financial services provider’s stock valued at $60,202,000 after purchasing an additional 753,405 shares in the last quarter. 77.12% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Trading Down 1.9 %

Shares of Iron Mountain stock opened at $52.76 on Friday. Iron Mountain Incorporated has a 1 year low of $43.33 and a 1 year high of $58.61. The company has a debt-to-equity ratio of 16.46, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $15.38 billion, a P/E ratio of 27.77, a PEG ratio of 3.59 and a beta of 0.90. The company’s fifty day moving average is $52.46 and its two-hundred day moving average is $51.34.

Iron Mountain (NYSE:IRM – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.46). Iron Mountain had a return on equity of 79.49% and a net margin of 10.91%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the business posted $0.74 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Analysts forecast that Iron Mountain Incorporated will post 3.77 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 15th were issued a $0.6185 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Tuesday, March 14th. This represents a $2.47 annualized dividend and a dividend yield of 4.69%. Iron Mountain’s payout ratio is presently 130.00%.

Insider Activity

In other news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $51.77, for a total value of $58,241.25. Following the sale, the executive vice president now owns 59,419 shares of the company’s stock, valued at $3,076,121.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $51.77, for a total value of $58,241.25. Following the sale, the executive vice president now owns 59,419 shares of the company’s stock, valued at $3,076,121.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 17,766 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $52.43, for a total transaction of $931,471.38. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $15,500,929.50. The disclosure for this sale can be found here. Insiders have sold a total of 84,045 shares of company stock valued at $4,430,971 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

IRM has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of Iron Mountain from $57.00 to $56.00 in a report on Monday, March 20th. StockNews.com initiated coverage on shares of Iron Mountain in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 price objective on shares of Iron Mountain in a report on Monday, March 6th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

About Iron Mountain

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Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.