Fiduciary Family Office LLC Makes New $738,000 Investment in Iron Mountain Incorporated (NYSE:IRM)

Key Points

• Fiduciary Family Office LLC has acquired a new position in Iron Mountain Incorporated, purchasing 8,582 shares valued at approximately $738,000 during the first quarter.
• Insider trading activity includes Director Walter C. Rakowich selling 900 shares and EVP Greg W. Mcintosh selling 17,334 shares, indicating a significant decrease in their ownership stakes.
• Iron Mountain plans to distribute a quarterly dividend of $0.785 per share, which translates to an annualized yield of 3.5% for investors of record as of September 15th.

Fiduciary Family Office LLC bought a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,582 shares of the financial services provider's stock, valued at approximately $738,000.

A number of other large investors have also modified their holdings of the company. Whittier Trust Co. grew its position in Iron Mountain by 3.4% in the first quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider's stock valued at $281,000 after acquiring an additional 108 shares during the period. Belpointe Asset Management LLC grew its position in Iron Mountain by 1.6% in the fourth quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider's stock valued at $821,000 after acquiring an additional 112 shares during the period. DoubleLine ETF Adviser LP grew its position 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 valued at $2,214,000 after acquiring an additional 114 shares during the period. Stratos Wealth Partners LTD. grew its position in Iron Mountain by 3.7% in the first quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider's stock valued at $285,000 after acquiring an additional 118 shares during the period. Finally, Diversify Advisory Services LLC grew its position in Iron Mountain by 1.9% in the first quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider's stock valued at $572,000 after acquiring an additional 123 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Walter C. Rakowich sold 900 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total transaction of $89,973.00. Following the completion of the sale, the director directly owned 36,515 shares in the company, valued at approximately $3,650,404.55. This represents a 2.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $102.02, for a total value of $612,120.00. Following the sale, the executive vice president owned 91,081 shares of the company's stock, valued at approximately $9,292,083.62. The trade was a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 240,007 shares of company stock valued at $23,543,507. 1.90% of the stock is owned by insiders.

Iron Mountain Stock Down 0.5%

Shares of NYSE IRM traded down $0.49 during midday trading on Monday, hitting $89.67. 1,306,314 shares of the company's stock were exchanged, compared to its average volume of 1,401,185. The company's 50 day moving average price is $99.30 and its 200 day moving average price is $94.38. The firm has a market capitalization of $26.48 billion, a PE ratio of 640.53 and a beta of 1.07. 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 quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.05. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%. The firm's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 EPS. On average, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, September 15th. Iron Mountain's dividend payout ratio is presently 2,242.86%.

Analyst Upgrades and Downgrades

IRM has been the topic of a number of analyst reports. Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Barclays increased 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. Finally, JPMorgan Chase & Co. decreased their target price on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Iron Mountain has an average rating of "Buy" and a consensus target price of $120.00.

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.