Cary Street Partners Financial LLC Takes $1.31 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Cary Street Partners Financial LLC bought a new stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 12,441 shares of the financial services provider's stock, valued at approximately $1,308,000.

Several other institutional investors have also added to or reduced their stakes in the business. IMG Wealth Management Inc. purchased a new position in shares of Iron Mountain in the 4th quarter worth $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Iron Mountain in the 4th quarter worth $26,000. Key Financial Inc boosted its stake in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after buying an additional 251 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of 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 worth $51,000 after buying an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new position in Iron Mountain during the fourth quarter valued at $53,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

Shares of IRM stock traded up $0.86 during trading hours on Monday, hitting $97.93. The stock had a trading volume of 465,088 shares, compared to its average volume of 1,842,718. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The stock's 50-day moving average price is $86.50 and its two-hundred day moving average price is $100.97. The stock has a market capitalization of $28.89 billion, a price-to-earnings ratio of 160.78, a PEG ratio of 5.15 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $1.59 billion. During the same period in the previous year, the firm posted $1.10 earnings per share. The business's revenue was up 7.9% compared to the same quarter last year. As a group, equities research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be paid a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 annualized dividend and a yield of 3.21%. Iron Mountain's payout ratio is currently 765.85%.

Insiders Place Their Bets

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the sale, the chief accounting officer now directly owns 288 shares of the company's stock, valued at $26,737.92. The trade was a 95.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mithu Bhargava sold 1,738 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at $1,211,933.36. The trade was a 11.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 318,973 shares of company stock valued at $29,112,345 over the last ninety days. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Wells Fargo & Company lowered their target price 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. Barclays lowered their target price 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. lowered their target price 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, Truist Financial initiated coverage on Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price target on the stock. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $121.29.

Iron Mountain 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.