American Trust Investment Advisors LLC Has $5.47 Million Holdings in Iron Mountain Incorporated $IRM

Key Points

• American Trust Investment Advisors LLC reduced its holdings in Iron Mountain by 6.4%, selling 4,310 shares, and now owns $5,465,000 worth of the company's stock.
• Iron Mountain's recent earnings report showed a revenue increase of 11.6% year-over-year, with earnings per share exceeding expectations at $1.24.
• The company is set to pay a quarterly dividend of $0.785 per share, yielding 3.5%, to shareholders of record on September 15th.

American Trust Investment Advisors LLC reduced its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,514 shares of the financial services provider's stock after selling 4,310 shares during the period. Iron Mountain comprises about 2.3% of American Trust Investment Advisors LLC's portfolio, making the stock its 13th biggest holding. American Trust Investment Advisors LLC's holdings in Iron Mountain were worth $5,465,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC grew its holdings in shares of Iron Mountain by 14.7% in the first quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider's stock valued at $1,251,000 after purchasing an additional 1,860 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Iron Mountain during the first quarter worth approximately $30,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Iron Mountain by 1.4% during the first quarter. Steward Partners Investment Advisory LLC now owns 38,032 shares of the financial services provider's stock worth $3,272,000 after purchasing an additional 513 shares during the period. Inspire Trust Co. N.A. lifted its holdings in Iron Mountain by 21.4% in the first quarter. Inspire Trust Co. N.A. now owns 17,000 shares of the financial services provider's stock valued at $1,463,000 after acquiring an additional 3,000 shares during the period. Finally, HighTower Advisors LLC increased its position in Iron Mountain by 76.7% during the 1st quarter. HighTower Advisors LLC now owns 109,124 shares of the financial services provider's stock worth $9,389,000 after purchasing an additional 47,380 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Down 0.4%

IRM traded down $0.39 during midday trading on Monday, hitting $91.79. 542,466 shares of the company were exchanged, compared to its average volume of 1,784,049. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The firm has a market capitalization of $27.11 billion, a P/E ratio of 655.33 and a beta of 1.08. The firm's 50 day moving average price is $95.38 and its 200-day moving average price is $93.23.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.05. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The firm's revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 earnings per share. On average, sell-side 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 announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, September 15th. Iron Mountain's dividend payout ratio is currently 2,242.86%.

Insider Activity

In other news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $94.55, for a total value of $6,535,768.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $89.56, for a total transaction of $6,190,835.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 236,709 shares of company stock worth $22,555,809. 1.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IRM has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Barclays boosted their price target on Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $120.17.

About Iron Mountain

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.