Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC lowered its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 98.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 527 shares of the financial services provider's stock after selling 43,298 shares during the quarter. Catalyst Capital Advisors LLC's holdings in Iron Mountain were worth $45,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IMG Wealth Management Inc. acquired a new stake in Iron Mountain during the fourth quarter worth about $26,000. Cranbrook Wealth Management LLC acquired a new stake in shares of Iron Mountain during the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC acquired a new stake in shares of Iron Mountain during the 1st quarter worth approximately $30,000. Franchise Capital Ltd acquired a new stake in shares of Iron Mountain during the 1st quarter worth approximately $39,000. Finally, Crewe Advisors LLC grew its position in Iron Mountain by 10,000.0% during the first quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider's stock valued at $43,000 after buying an additional 500 shares during the period. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Trading Up 1.9%

IRM traded up $1.92 on Friday, hitting $101.53. 914,630 shares of the company's stock were exchanged, compared to its average volume of 1,800,671. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The firm has a 50-day moving average price of $99.01 and a 200-day moving average price of $96.02. The stock has a market cap of $29.95 billion, a price-to-earnings ratio of 247.62 and a beta of 1.08.

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

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders 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 yield of 3.09%. The ex-dividend date was Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is currently 765.85%.

Wall Street Analyst Weigh In

Several analysts have commented on IRM shares. Barclays raised their price objective on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Finally, 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 target price on the stock. One 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.com, the stock has an average rating of "Buy" and an average price target of $121.71.

Insider Buying and Selling

In other Iron Mountain news, Director Walter C. Rakowich sold 900 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total transaction of $89,973.00. Following the transaction, the director owned 36,515 shares of the company's stock, valued at approximately $3,650,404.55. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the business'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 transaction, the executive vice president directly owned 91,081 shares in the company, valued at approximately $9,292,083.62. The trade was a 6.18% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 240,007 shares of company stock worth $23,649,959. 1.90% of the stock is currently owned by corporate insiders.

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.