CX Institutional Sells 3,000 Shares of Iron Mountain Incorporated (NYSE:IRM)

CX Institutional lessened its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 62.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,801 shares of the financial services provider's stock after selling 3,000 shares during the period. CX Institutional's holdings in Iron Mountain were worth $155,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its stake in shares of Iron Mountain by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider's stock worth $2,644,000 after acquiring an additional 100 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in shares of Iron Mountain by 1.6% during the 4th quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider's stock valued at $821,000 after purchasing an additional 112 shares during the last quarter. DoubleLine ETF Adviser LP lifted its stake in Iron Mountain by 0.5% in the fourth quarter. DoubleLine ETF Adviser LP now owns 21,064 shares of the financial services provider's stock worth $2,214,000 after purchasing an additional 114 shares during the last quarter. One Charles Private Wealth Services LLC boosted its position in Iron Mountain by 1.0% during the fourth quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider's stock valued at $1,236,000 after buying an additional 119 shares during the period. Finally, Secured Retirement Advisors LLC boosted its position in Iron Mountain by 6.5% during the fourth quarter. Secured Retirement Advisors LLC now owns 1,967 shares of the financial services provider's stock valued at $207,000 after buying an additional 120 shares during the period. Institutional investors own 80.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IRM shares. JPMorgan Chase & Co. lowered their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. Barclays lifted their price target on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Truist Financial began coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective for the company. Finally, Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $121.71.

Insider Transactions at Iron Mountain

In other news, EVP Greg W. Mcintosh sold 8,398 shares of Iron Mountain stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total transaction of $807,383.72. Following the completion of the transaction, the executive vice president now directly owns 70,114 shares in the company, valued at approximately $6,740,759.96. This trade represents a 10.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 value of $5,952,353.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 216,673 shares of company stock valued at $20,319,408. Corporate insiders own 1.90% of the company's stock.

Iron Mountain Trading Up 0.0%

Shares of IRM stock traded up $0.03 during trading hours on Tuesday, reaching $102.10. The company's stock had a trading volume of 131,925 shares, compared to its average volume of 1,843,999. The stock has a market capitalization of $30.12 billion, a P/E ratio of 167.59, a P/E/G ratio of 5.15 and a beta of 1.09. The firm's fifty day simple moving average is $93.92 and its 200 day simple moving average is $97.10. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the firm earned $1.10 EPS. The company's quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be issued a dividend of $0.785 per share. The ex-dividend date is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.08%. Iron Mountain's dividend payout ratio (DPR) is 765.85%.

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.