Iron Mountain Incorporated (NYSE:IRM) Shares Sold by CWA Asset Management Group LLC

CWA Asset Management Group LLC reduced its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 73.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,647 shares of the financial services provider's stock after selling 9,921 shares during the quarter. CWA Asset Management Group LLC's holdings in Iron Mountain were worth $314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wealthfront Advisers LLC raised its stake in Iron Mountain by 9,843.3% during the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after purchasing an additional 6,795,792 shares in the last quarter. Norges Bank purchased a new position in Iron Mountain in the 4th quarter worth about $348,249,000. Northern Trust Corp increased its stake in Iron Mountain by 56.1% in the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock worth $454,756,000 after buying an additional 1,554,746 shares during the period. TD Asset Management Inc. increased its position in Iron Mountain by 125.4% during the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock valued at $205,220,000 after purchasing an additional 1,086,308 shares during the period. Finally, Point72 Asset Management L.P. increased its position in Iron Mountain by 439.8% during the 4th quarter. Point72 Asset Management L.P. now owns 1,200,660 shares of the financial services provider's stock valued at $126,201,000 after purchasing an additional 978,251 shares during the period. Institutional investors own 80.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IRM. Truist Financial began 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. Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Barclays lifted their target price 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 equities 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $121.71.

Insider Activity

In related news, Director Walter C. Rakowich sold 900 shares of the company'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 sale, the director now directly owns 36,515 shares in the company, valued at approximately $3,650,404.55. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total transaction of $5,952,353.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 216,673 shares of company stock valued at $20,319,408. 1.90% of the stock is currently owned by insiders.

Iron Mountain Price Performance

NYSE IRM traded down $1.33 on Friday, hitting $101.32. The company had a trading volume of 2,709,767 shares, compared to its average volume of 1,780,697. The company has a market capitalization of $29.89 billion, a PE ratio of 247.12 and a beta of 1.09. The company's fifty day moving average price is $95.44 and its 200-day moving average price is $96.62. 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 earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The business 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 firm earned $1.10 earnings per share. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be given a dividend of $0.785 per share. The ex-dividend date is Monday, June 16th. This represents a $3.14 annualized dividend and a dividend yield of 3.10%. Iron Mountain's payout ratio is 765.85%.

About Iron Mountain

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.