3,419 Shares in Iron Mountain Incorporated (NYSE:IRM) Acquired by Advisor Resource Council

Advisor Resource Council acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,419 shares of the financial services provider's stock, valued at approximately $294,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Halbert Hargrove Global Advisors LLC bought a new position in shares of Iron Mountain during the fourth quarter valued at $26,000. IMG Wealth Management Inc. purchased a new position in Iron Mountain in the 4th quarter worth about $26,000. Cranbrook Wealth Management LLC bought a new position in Iron Mountain during the 1st quarter valued at about $26,000. Franchise Capital Ltd purchased a new stake in shares of Iron Mountain during the 1st quarter valued at about $39,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of Iron Mountain by 46.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after acquiring an additional 155 shares during the period. Hedge funds and other institutional investors own 80.13% of the company's stock.

Insider Activity at Iron Mountain

In other news, EVP Greg W. Mcintosh sold 8,398 shares of Iron Mountain stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total transaction of $807,383.72. Following the sale, the executive vice president now owns 70,114 shares of the company's stock, valued at approximately $6,740,759.96. The trade was a 10.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total value of $5,952,353.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 216,673 shares of company stock valued at $20,319,408. 1.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on IRM. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Barclays increased their price target on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. 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 given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $121.71.

Iron Mountain Stock Performance

IRM traded down $2.48 during trading on Wednesday, hitting $102.77. The stock had a trading volume of 1,544,263 shares, compared to its average volume of 1,773,067. The company has a market capitalization of $30.32 billion, a PE ratio of 250.66 and a beta of 1.09. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The stock has a 50 day simple moving average of $96.65 and a two-hundred day simple moving average of $96.60.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating 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 201.62% and a net margin of 1.97%. Iron Mountain's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.10 earnings per share. On average, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be given a dividend of $0.785 per share. The ex-dividend date is Monday, June 16th. This represents a $3.14 annualized dividend and a dividend yield of 3.06%. Iron Mountain's dividend payout ratio (DPR) is presently 765.85%.

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.