Bank of New York Mellon Corp Has $160.15 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Bank of New York Mellon Corp decreased its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 8.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,861,318 shares of the financial services provider's stock after selling 173,594 shares during the period. Bank of New York Mellon Corp owned about 0.63% of Iron Mountain worth $160,148,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. IMG Wealth Management Inc. bought a new stake in shares of Iron Mountain in the 4th quarter valued at approximately $26,000. Cranbrook Wealth Management LLC bought a new stake in shares of Iron Mountain in the 1st quarter valued at approximately $26,000. Golden State Wealth Management LLC bought a new stake in shares of Iron Mountain in the 1st quarter valued at approximately $30,000. Wayfinding Financial LLC bought a new stake in shares of Iron Mountain in the 1st quarter valued at approximately $37,000. Finally, Franchise Capital Ltd bought a new stake in shares of Iron Mountain in the 1st quarter valued at approximately $39,000. Institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Down 0.7%

Shares of IRM stock traded down $0.67 during trading hours on Tuesday, reaching $99.65. 1,059,575 shares of the company's stock were exchanged, compared to its average volume of 1,795,841. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The stock has a market capitalization of $29.40 billion, a P/E ratio of 243.05 and a beta of 1.08. The business has a fifty day moving average price of $99.24 and a 200-day moving average price of $95.95.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the company earned $1.10 earnings per share. The company's quarterly revenue was up 7.9% compared to the same quarter last year. As a group, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 16th were paid a $0.785 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.15%. Iron Mountain's payout ratio is 765.85%.

Analyst Ratings Changes

Several equities research analysts recently commented on IRM shares. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Barclays upped their target price on 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 began coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price for the company. One 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $121.71.

Insider Transactions at Iron Mountain

In related news, EVP Greg W. Mcintosh sold 17,334 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total value of $1,733,400.00. Following the completion of the transaction, the executive vice president directly owned 35,446 shares in the company, valued at approximately $3,544,600. This represents a 32.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $102.02, for a total value of $612,120.00. Following the completion of the transaction, the executive vice president owned 91,081 shares of the company's stock, valued at $9,292,083.62. The trade was a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 240,007 shares of company stock valued at $23,649,959. Company insiders own 1.90% of the company's stock.

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.