Community Bank of Raymore Decreases Holdings in Iron Mountain Incorporated (NYSE:IRM)

Key Points

• Community Bank of Raymore has reduced its stake in Iron Mountain Incorporated by 19.1%, holding 13,341 shares valued at approximately $1,148,000 at the end of the quarter.
• Insider trading is notable, with EVP Mark Kidd selling 6,000 shares for about $612,120, representing a 6.18% decrease in his position, while other insiders have sold 240,007 shares valued at over $23 million in the last quarter.
• Iron Mountain's recent quarterly earnings topped estimates with $1.24 EPS and an 11.6% increase in revenue, highlighting its strong financial performance despite a negative return on equity of 146.80%.

Community Bank of Raymore decreased its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 19.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,341 shares of the financial services provider's stock after selling 3,155 shares during the period. Community Bank of Raymore's holdings in Iron Mountain were worth $1,148,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of IRM. Whittier Trust Co. grew its stake in shares of Iron Mountain by 3.4% in the 1st quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider's stock worth $281,000 after buying an additional 108 shares in the last quarter. Belpointe Asset Management LLC grew its stake in shares of Iron Mountain by 1.6% in the 4th quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider's stock worth $821,000 after buying an additional 112 shares in the last quarter. DoubleLine ETF Adviser LP raised its position in Iron Mountain by 0.5% during the fourth quarter. DoubleLine ETF Adviser LP now owns 21,064 shares of the financial services provider's stock valued at $2,214,000 after purchasing an additional 114 shares during the period. Stratos Wealth Partners LTD. raised its position in Iron Mountain by 3.7% during the first quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider's stock valued at $285,000 after purchasing an additional 118 shares during the period. Finally, Diversify Advisory Services LLC boosted its holdings in shares of Iron Mountain by 1.9% in the 1st quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider's stock worth $572,000 after purchasing an additional 123 shares during the period. Institutional investors own 80.13% of the company's stock.

Iron Mountain Price Performance

NYSE IRM traded up $0.07 during trading on Friday, reaching $91.47. 1,159,811 shares of the company's stock traded hands, compared to its average volume of 1,454,023. The firm has a market cap of $27.02 billion, a price-to-earnings ratio of 653.40 and a beta of 1.07. The company's 50 day simple moving average is $98.61 and its two-hundred day simple moving average is $94.23. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period last year, the business earned $1.08 EPS. The company's revenue was up 11.6% compared to the same quarter last year. Research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, September 15th. Iron Mountain's dividend payout ratio (DPR) is currently 2,242.86%.

Insider Activity

In related news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $94.55, for a total value of $6,535,768.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Walter C. Rakowich sold 900 shares of Iron Mountain stock in a transaction that occurred 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 completion of the sale, the director owned 36,515 shares of the company's stock, 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 240,007 shares of company stock valued at $23,543,507 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IRM. Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Finally, Barclays upped 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 research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $120.00.

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.