Brown Advisory Inc. Sells 7,443 Shares of Iron Mountain Incorporated (NYSE:IRM)

Brown Advisory Inc. lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 37.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,554 shares of the financial services provider's stock after selling 7,443 shares during the period. Brown Advisory Inc.'s holdings in Iron Mountain were worth $1,080,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. IMG Wealth Management Inc. acquired a new stake in Iron Mountain in the fourth quarter valued at about $26,000. Cranbrook Wealth Management LLC acquired a new stake in shares of Iron Mountain during the first quarter worth $26,000. Golden State Wealth Management LLC acquired a new position in shares of Iron Mountain during the 1st quarter valued at about $30,000. Wayfinding Financial LLC purchased a new stake in shares of Iron Mountain during the 1st quarter valued at $37,000. Finally, Franchise Capital Ltd acquired a new stake in Iron Mountain during the first quarter worth about $39,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Trading Up 0.0%

IRM stock traded up $0.03 on Monday, hitting $98.02. 896,045 shares of the company's stock traded hands, compared to its average volume of 1,924,805. The stock has a fifty day moving average of $99.85 and a 200-day moving average of $95.76. The stock has a market cap of $28.92 billion, a price-to-earnings ratio of 239.08 and a beta of 1.08. 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 released its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. The company had revenue of $1.59 billion during 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%. The company's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 earnings per share. On average, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th were given a $0.785 dividend. The ex-dividend date was Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.20%. Iron Mountain's dividend payout ratio is currently 765.85%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Truist Financial started coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective for the company. Barclays increased their price objective 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. Finally, Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $121.71.

Insider Activity

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 91,081 shares of the company's stock, valued at $9,292,083.62. This represents a 6.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain 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 disclosure for this sale can be found here. Insiders have sold a total of 240,007 shares of company stock valued at $23,649,959 over the last three months. Corporate 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.