Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Columbia Asset Management

Columbia Asset Management lowered its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 29.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,392 shares of the financial services provider's stock after selling 2,695 shares during the quarter. Columbia Asset Management's holdings in Iron Mountain were worth $550,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Key Financial Inc grew its holdings in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after acquiring an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC purchased a new stake in Iron Mountain during the fourth quarter worth $26,000. IMG Wealth Management Inc. acquired a new stake in Iron Mountain in the fourth quarter valued at $26,000. Franchise Capital Ltd purchased a new position in shares of Iron Mountain in the first quarter valued at $39,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after buying an additional 155 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Trading Up 1.0%

Shares of NYSE IRM traded up $0.99 during midday trading on Friday, reaching $102.27. 1,845,654 shares of the stock were exchanged, compared to its average volume of 1,865,014. The stock has a 50 day moving average price of $91.02 and a 200-day moving average price of $98.36. The company has a market capitalization of $30.17 billion, a P/E ratio of 167.66, a P/E/G ratio of 5.15 and a beta of 1.09. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week 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 EPS for the quarter, topping the consensus estimate 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 2.95% and a negative return on equity of 401.83%. Iron Mountain's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 EPS. On average, analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's payout ratio is 765.85%.

Analyst Ratings Changes

A number of equities research analysts recently commented on IRM shares. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note 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 on the stock. Barclays raised 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, JPMorgan Chase & Co. cut their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. One investment 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $121.71.

Insiders Place Their Bets

In other news, EVP Greg W. Mcintosh sold 8,398 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total transaction of $807,383.72. Following the transaction, the executive vice president now directly owns 70,114 shares in the company, valued at $6,740,759.96. This represents a 10.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Walter C. Rakowich sold 900 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the completion of the sale, the director now owns 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 216,673 shares of company stock valued at $20,319,408. Insiders own 1.90% of the company's stock.

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.