Colonial River Investments LLC Sells 5,223 Shares of Iron Mountain Incorporated (NYSE:IRM)

Colonial River Investments LLC reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 37.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 8,795 shares of the financial services provider's stock after selling 5,223 shares during the period. Colonial River Investments LLC's holdings in Iron Mountain were worth $757,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of IRM. Wealthfront Advisers LLC lifted its holdings in Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after buying an additional 6,795,792 shares in the last quarter. Northern Trust Corp raised its stake in shares of Iron Mountain by 56.1% during 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 acquiring an additional 1,554,746 shares in the last quarter. 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 valued at $443,476,000 after acquiring an additional 15,097 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Iron Mountain by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider's stock valued at $365,656,000 after purchasing an additional 92,475 shares in the last quarter. Finally, Norges Bank bought a new stake in Iron Mountain during the 4th quarter valued at $348,249,000. 80.13% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total transaction of $5,952,353.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Walter C. Rakowich sold 900 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total value of $89,973.00. Following the sale, the director now owns 36,515 shares in the company, valued at $3,650,404.55. This trade represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 216,673 shares of company stock valued at $20,319,408 over the last ninety days. Company insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

IRM has been the subject of several recent research reports. Truist Financial initiated coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective for the company. Barclays boosted 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 Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Iron Mountain presently has a consensus rating of "Buy" and an average target price of $121.71.

Iron Mountain Price Performance

NYSE IRM opened at $102.35 on Friday. The stock's fifty day moving average price is $97.35 and its 200 day moving average price is $96.44. The company has a market cap of $30.20 billion, a price-to-earnings ratio of 249.62 and a beta of 1.09. 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 quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.01. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $1.10 EPS. Research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be issued a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.07%. The ex-dividend date is Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is 765.85%.

Iron Mountain 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.

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