Bleakley Financial Group LLC Has $927,000 Stake in Iron Mountain Incorporated (NYSE:IRM)

Bleakley Financial Group LLC cut its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 40.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,776 shares of the financial services provider's stock after selling 7,316 shares during the period. Bleakley Financial Group LLC's holdings in Iron Mountain were worth $927,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cranbrook Wealth Management LLC acquired a new position in Iron Mountain in the first quarter valued at about $26,000. Golden State Wealth Management LLC acquired a new position in Iron Mountain in the first quarter valued at about $30,000. Wayfinding Financial LLC acquired a new position in Iron Mountain in the first quarter valued at about $37,000. Franchise Capital Ltd acquired a new position in shares of Iron Mountain during the first quarter worth approximately $39,000. Finally, Crewe Advisors LLC lifted its position in shares of Iron Mountain by 10,000.0% during the first quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider's stock worth $43,000 after purchasing an additional 500 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total transaction of $6,937,385.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $102.02, for a total transaction of $612,120.00. Following the completion of the transaction, the executive vice president directly owned 91,081 shares in the company, valued at approximately $9,292,083.62. This represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 240,007 shares of company stock worth $23,649,959. 1.90% of the stock is owned by corporate insiders.

Iron Mountain Stock Up 1.0%

IRM traded up $0.98 during trading hours on Friday, hitting $99.67. 855,176 shares of the company's stock were exchanged, compared to its average volume of 1,772,736. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The stock's 50-day moving average is $99.93 and its two-hundred day moving average is $95.71. The stock has a market cap of $29.41 billion, a price-to-earnings ratio of 243.10 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly 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 during the quarter, compared to analysts' expectations of $1.59 billion. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the company posted $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 Dividend Announcement

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

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of research reports. Barclays upped their target price 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. Truist Financial initiated coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $121.71.

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.