Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 5.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 77,599 shares of the financial services provider's stock after selling 4,049 shares during the period. Edgestream Partners L.P.'s holdings in Iron Mountain were worth $6,677,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Belpointe Asset Management LLC lifted its stake 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 buying an additional 112 shares in the last quarter. DoubleLine ETF Adviser LP lifted its stake in shares of Iron Mountain by 0.5% during the 4th quarter. DoubleLine ETF Adviser LP now owns 21,064 shares of the financial services provider's stock valued at $2,214,000 after buying an additional 114 shares in the last quarter. Stratos Wealth Partners LTD. lifted its stake in Iron Mountain by 3.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider's stock worth $285,000 after purchasing an additional 118 shares in the last quarter. One Charles Private Wealth Services LLC lifted its stake in Iron Mountain by 1.0% in the 4th quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider's stock worth $1,236,000 after purchasing an additional 119 shares in the last quarter. Finally, Scotia Capital Inc. lifted its stake in Iron Mountain by 2.8% in the 4th quarter. Scotia Capital Inc. now owns 4,618 shares of the financial services provider's stock worth $486,000 after purchasing an additional 126 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Up 0.8%

Shares of Iron Mountain stock traded up $0.77 on Friday, reaching $99.46. The stock had a trading volume of 410,788 shares, compared to its average volume of 1,899,343. The company has a 50 day moving average price of $99.93 and a 200 day moving average price of $95.71. 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 $29.34 billion, a P/E ratio of 242.61 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. Iron Mountain's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the business earned $1.10 EPS. On average, analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 16th were paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date was Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is presently 765.85%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total transaction of $6,937,385.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Walter C. Rakowich sold 900 shares of Iron Mountain 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 owned 36,515 shares of the company's stock, valued at approximately $3,650,404.55. The trade was a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 240,007 shares of company stock valued at $23,649,959 over the last 90 days. Company insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays increased 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. Truist Financial assumed coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price for the company. Finally, Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target 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.