CoreCap Advisors LLC Decreases Position in Iron Mountain Incorporated (NYSE:IRM)

CoreCap Advisors LLC lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 24.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,654 shares of the financial services provider's stock after selling 8,756 shares during the quarter. CoreCap Advisors LLC's holdings in Iron Mountain were worth $2,907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of IRM. Oregon Public Employees Retirement Fund raised its position in Iron Mountain by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider's stock valued at $2,644,000 after purchasing an additional 100 shares in the last quarter. Premier Path Wealth Partners LLC increased its stake in shares of Iron Mountain by 3.9% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider's stock worth $299,000 after buying an additional 106 shares during the period. Belpointe Asset Management LLC raised its holdings in Iron Mountain by 1.6% in the fourth quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider's stock valued at $821,000 after acquiring an additional 112 shares in the last quarter. Mather Group LLC. raised its holdings in Iron Mountain by 4.6% in the fourth quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider's stock valued at $271,000 after acquiring an additional 113 shares in the last quarter. Finally, DoubleLine ETF Adviser LP lifted its stake in Iron Mountain by 0.5% in the fourth quarter. DoubleLine ETF Adviser LP now owns 21,064 shares of the financial services provider's stock worth $2,214,000 after acquiring an additional 114 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $97.18 on Thursday. The stock has a market cap of $28.66 billion, a P/E ratio of 159.31, a P/E/G ratio of 5.15 and a beta of 1.08. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The firm has a fifty day moving average price of $86.20 and a 200 day moving average price of $101.68.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business's revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $1.10 earnings per share. Sell-side analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.23%. Iron Mountain's dividend payout ratio (DPR) is 765.85%.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the sale, the chief executive officer now directly owns 237,402 shares in the company, valued at $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Daniel Borges sold 6,433 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares of the company's stock, valued at $26,737.92. The trade was a 95.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 318,973 shares of company stock valued at $29,112,345. 2.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Wells Fargo & Company lowered their price objective on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Truist Financial began coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average 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.

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