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Exchange Traded Concepts LLC Cuts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Iron Mountain logo with Business Services background

Exchange Traded Concepts LLC decreased its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 87.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,184 shares of the financial services provider's stock after selling 7,963 shares during the quarter. Exchange Traded Concepts LLC's holdings in Iron Mountain were worth $102,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of IRM. Venturi Wealth Management LLC boosted its stake in shares of Iron Mountain by 104.8% in the 4th quarter. Venturi Wealth Management LLC now owns 514 shares of the financial services provider's stock worth $54,000 after buying an additional 263 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Iron Mountain by 37.9% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 53,084 shares of the financial services provider's stock valued at $5,580,000 after acquiring an additional 14,600 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Iron Mountain in the fourth quarter worth about $2,901,000. IFP Advisors Inc grew its stake in shares of Iron Mountain by 23.8% during the 4th quarter. IFP Advisors Inc now owns 4,413 shares of the financial services provider's stock valued at $464,000 after purchasing an additional 848 shares during the period. Finally, Denali Advisors LLC increased its position in shares of Iron Mountain by 1.3% during the 4th quarter. Denali Advisors LLC now owns 14,699 shares of the financial services provider's stock valued at $1,545,000 after purchasing an additional 194 shares during the last quarter. Institutional investors own 80.13% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on IRM shares. Truist Financial assumed coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price for the company. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Barclays raised their target price on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Iron Mountain currently has an average rating of "Buy" and a consensus target price of $121.71.

Read Our Latest Report on IRM

Iron Mountain Price Performance

Shares of IRM stock traded up $1.44 on Friday, hitting $102.35. 5,698,153 shares of the stock traded hands, compared to its average volume of 1,792,666. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The firm has a 50 day simple moving average of $97.35 and a two-hundred day simple moving average of $96.33. The firm has a market cap of $30.20 billion, a price-to-earnings ratio of 249.62 and a beta of 1.09.

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

Iron Mountain Dividend Announcement

The business also recently disclosed 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. This represents a $3.14 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is currently 765.85%.

Insider Activity

In related news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $96.09, for a total transaction of $6,642,221.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Greg W. Mcintosh sold 8,398 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total transaction of $807,383.72. Following the transaction, the executive vice president now directly owns 70,114 shares of the company's stock, valued at $6,740,759.96. This trade represents a 10.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 216,673 shares of company stock worth $20,319,408 over the last quarter. Insiders own 1.90% of the company's stock.

Iron Mountain Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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