Csenge Advisory Group Reduces Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Csenge Advisory Group lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 34.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,737 shares of the financial services provider's stock after selling 4,137 shares during the quarter. Csenge Advisory Group's holdings in Iron Mountain were worth $652,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Cranbrook Wealth Management LLC purchased a new position in shares of Iron Mountain during the 1st quarter valued at $26,000. Golden State Wealth Management LLC bought a new stake in shares of Iron Mountain during the 1st quarter valued at $30,000. Wayfinding Financial LLC bought a new stake in shares of Iron Mountain during the 1st quarter valued at $37,000. Franchise Capital Ltd bought a new stake in shares of Iron Mountain during the 1st 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 valued at $51,000 after purchasing an additional 155 shares during the period. Institutional investors own 80.13% of the company's stock.

Iron Mountain Trading Down 0.6%

NYSE:IRM traded down $0.58 during trading hours on Thursday, reaching $98.80. 164,415 shares of the company traded hands, compared to its average volume of 1,868,082. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The stock has a market capitalization of $29.15 billion, a P/E ratio of 240.97 and a beta of 1.08. The business's 50-day moving average price is $100.03 and its two-hundred day moving average price is $95.52.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data 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. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. The business's quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

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

Insider Buying and Selling

In other news, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total value 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. This trade represents a 6.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total value of $6,937,385.00. The disclosure for this sale can be found here. Insiders sold a total of 240,007 shares of company stock worth $23,649,959 over the last quarter. Insiders own 1.90% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Truist Financial started coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Finally, 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. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $121.71.

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.