CoreCap Advisors LLC Has $2.91 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

CoreCap Advisors LLC trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 24.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in IRM. Oregon Public Employees Retirement Fund grew 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 worth $2,644,000 after purchasing an additional 100 shares during the last quarter. Premier Path Wealth Partners LLC lifted its stake in shares of Iron Mountain by 3.9% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider's stock worth $299,000 after acquiring an additional 106 shares during the period. Belpointe Asset Management LLC lifted its stake in shares of Iron Mountain by 1.6% in the 4th quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider's stock worth $821,000 after acquiring an additional 112 shares during the period. Mather Group LLC. lifted its stake in shares of Iron Mountain by 4.6% in the 4th quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider's stock worth $271,000 after acquiring an additional 113 shares during the period. Finally, DoubleLine ETF Adviser LP lifted its stake in shares of Iron Mountain by 0.5% in the 4th 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 period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Down 0.8%

Iron Mountain stock traded down $0.74 during mid-day trading on Tuesday, reaching $97.20. The company had a trading volume of 366,621 shares, compared to its average volume of 1,838,607. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The company has a 50 day moving average of $86.70 and a 200-day moving average of $100.76. The firm has a market cap of $28.68 billion, a price-to-earnings ratio of 159.34, a PEG ratio of 5.15 and a beta of 1.08.

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

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be issued a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Monday, June 16th. Iron Mountain's payout ratio is 765.85%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IRM. JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Barclays dropped their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. Wells Fargo & Company dropped their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Finally, Truist Financial started coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Iron Mountain has an average rating of "Buy" and a consensus target price of $121.29.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $96.09, for a total value of $6,642,221.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now owns 13,054 shares of the company's stock, valued at $1,211,933.36. The trade was a 11.75% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 318,973 shares of company stock valued at $29,112,345. Company insiders own 2.10% of the company's stock.

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.