Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. has reduced its stake in Iron Mountain Incorporated by 14.9%, now holding 19,020 shares valued at approximately $1.64 million.
• Iron Mountain reported an earnings per share (EPS) of $1.24 for the last quarter, exceeding analysts' expectations of $1.19, with a quarterly revenue of $1.68 billion.
• The company declared a quarterly dividend of $0.785 per share with a dividend yield of 3.4%, set to be paid on October 3rd.

Benjamin Edwards Inc. lowered its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 14.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,020 shares of the financial services provider's stock after selling 3,319 shares during the period. Benjamin Edwards Inc.'s holdings in Iron Mountain were worth $1,636,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Iron Mountain by 0.5% during the first quarter. Vanguard Group Inc. now owns 46,825,734 shares of the financial services provider's stock worth $4,028,886,000 after buying an additional 220,564 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Iron Mountain by 56.1% in the fourth quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock valued at $454,756,000 after purchasing an additional 1,554,746 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Iron Mountain by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider's stock worth $443,476,000 after purchasing an additional 15,097 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Iron Mountain by 39.0% during the fourth quarter. Nuveen Asset Management LLC now owns 2,548,970 shares of the financial services provider's stock worth $267,922,000 after purchasing an additional 715,024 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Iron Mountain by 17.8% in the 1st quarter. JPMorgan Chase & Co. now owns 2,061,560 shares of the financial services provider's stock valued at $177,377,000 after buying an additional 311,494 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on IRM shares. Barclays raised their target price on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. JPMorgan Chase & Co. cut their price target on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Iron Mountain presently has an average rating of "Buy" and a consensus target price of $120.00.

Insider Transactions at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total value of $612,120.00. Following the sale, the executive vice president owned 91,081 shares of the company's stock, valued at approximately $9,292,083.62. This represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total value of $6,937,385.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 240,007 shares of company stock valued at $23,543,507. Company insiders own 1.90% of the company's stock.

Iron Mountain Trading Up 0.1%

Shares of NYSE:IRM traded up $0.07 on Friday, reaching $91.47. 1,159,811 shares of the company were exchanged, compared to its average volume of 1,454,023. The company has a 50-day moving average of $98.61 and a 200-day moving average of $94.19. The firm has a market cap of $27.02 billion, a price-to-earnings ratio of 653.40 and a beta of 1.07. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the business posted $1.08 earnings per share. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be issued a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.14 annualized dividend and a yield of 3.4%. Iron Mountain's payout ratio is currently 2,242.86%.

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.