Brown Advisory Inc. Has $1.08 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

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

A number of other hedge funds also recently made changes to their positions in IRM. IMG Wealth Management Inc. purchased a new stake in Iron Mountain during the 4th quarter worth $26,000. Cranbrook Wealth Management LLC purchased a new stake in Iron Mountain during the 1st quarter worth $26,000. Golden State Wealth Management LLC purchased a new stake in Iron Mountain during the 1st quarter worth $30,000. Wayfinding Financial LLC purchased a new stake in Iron Mountain during the 1st quarter worth $37,000. Finally, Franchise Capital Ltd purchased a new stake in Iron Mountain during the 1st quarter worth $39,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on IRM shares. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Truist Financial initiated coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target for the company. Finally, Barclays lifted their price target on shares of Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $121.71.

Insider Buying and Selling at Iron Mountain

In other news, EVP Greg W. Mcintosh sold 17,334 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total value of $1,733,400.00. Following the completion of the sale, the executive vice president directly owned 35,446 shares in the company, valued at approximately $3,544,600. The trade was a 32.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total transaction of $612,120.00. Following the completion of the sale, 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 ninety days, insiders sold 240,007 shares of company stock valued at $23,649,959. 1.90% of the stock is currently owned by insiders.

Iron Mountain Trading Up 0.5%

Iron Mountain stock traded up $0.46 during midday trading on Thursday, reaching $98.70. 1,097,411 shares of the stock traded hands, compared to its average volume of 1,776,406. The firm has a fifty day moving average price of $99.93 and a two-hundred day moving average price of $95.71. The firm has a market cap of $29.12 billion, a price-to-earnings ratio of 240.74 and a beta of 1.08. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last released 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 net margin of 1.97% and a negative return on equity of 201.62%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the firm earned $1.10 EPS. Iron Mountain's revenue was up 7.9% on a year-over-year basis. Analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 16th were given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Monday, June 16th. Iron Mountain's payout ratio is presently 765.85%.

Iron Mountain Company Profile

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.