CW Advisors LLC Sells 3,347 Shares of Iron Mountain Incorporated $IRM

Key Points

• CW Advisors LLC has reduced its stake in Iron Mountain Incorporated by 10.2%, selling 3,347 shares, and now holds 29,559 shares valued at approximately $2.54 million.
• Despite recent institutional sales, several firms have increased their stakes in Iron Mountain, with 80.13% of the stock currently owned by institutional investors.
• Iron Mountain announced a quarterly dividend of $0.785 per share, with a 3.3% yield and a high dividend payout ratio of 2,242.86%.

CW Advisors LLC decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 10.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,559 shares of the financial services provider's stock after selling 3,347 shares during the period. CW Advisors LLC's holdings in Iron Mountain were worth $2,545,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cranbrook Wealth Management LLC acquired a new stake in shares of Iron Mountain during the first quarter worth approximately $26,000. Financial Network Wealth Advisors LLC acquired a new stake in Iron Mountain during the 1st quarter valued at $26,000. Golden State Wealth Management LLC bought a new position in Iron Mountain in the 1st quarter valued at $30,000. Ramirez Asset Management Inc. acquired a new position in Iron Mountain in the first quarter valued at approximately $34,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Iron Mountain in the first quarter valued at approximately $37,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IRM shares. Barclays upped their price objective on Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. decreased their price target on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. According to data from MarketBeat, Iron Mountain has an average rating of "Buy" and an average price target of $120.17.

Iron Mountain Price Performance

Shares of Iron Mountain stock traded down $0.02 on Friday, reaching $91.95. 494,461 shares of the company traded hands, compared to its average volume of 1,793,423. The company has a 50 day moving average of $96.76 and a 200 day moving average of $93.52. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The firm has a market capitalization of $27.16 billion, a PE ratio of 656.37 and a beta of 1.07.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, topping 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 company had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the previous year, the firm posted $1.08 EPS. Iron Mountain's revenue was up 11.6% on a year-over-year basis. As a group, analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

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

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the 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 in the company, valued at $9,292,083.62. This trade represents a 6.18% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 231,609 shares of company stock worth $22,736,123. 1.90% of the stock is currently owned by company 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.