Foundations Investment Advisors LLC Grows Holdings in Iron Mountain Incorporated (NYSE:IRM)

Key Points

• Foundations Investment Advisors LLC increased its stake in Iron Mountain Incorporated by 45.4%, acquiring an additional 3,906 shares, bringing its total holdings to 12,513 shares worth approximately $1.08 million.
• Iron Mountain recently paid a quarterly dividend of $0.785 per share, yielding 3.20%, while the company's payout ratio stands at an unusually high 765.85%.
• Following recent insider selling, including EVP Greg W. Mcintosh offloading 17,334 shares, insiders have sold a total of 240,007 shares valued at nearly $23.6 million over the past 90 days.

Foundations Investment Advisors LLC raised its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 45.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,513 shares of the financial services provider's stock after purchasing an additional 3,906 shares during the quarter. Foundations Investment Advisors LLC's holdings in Iron Mountain were worth $1,077,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC grew its stake in Iron Mountain by 12.0% in the 4th quarter. Orion Portfolio Solutions LLC now owns 8,920 shares of the financial services provider's stock worth $938,000 after acquiring an additional 957 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in Iron Mountain by 14.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 24,473 shares of the financial services provider's stock worth $2,572,000 after acquiring an additional 3,008 shares in the last quarter. Summit Financial LLC grew its stake in Iron Mountain by 39.7% in the 4th quarter. Summit Financial LLC now owns 6,135 shares of the financial services provider's stock worth $648,000 after acquiring an additional 1,744 shares in the last quarter. B. Metzler seel. Sohn & Co. AG boosted its stake in shares of Iron Mountain by 7.2% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 24,698 shares of the financial services provider's stock valued at $2,594,000 after purchasing an additional 1,651 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Iron Mountain by 3.1% during the fourth quarter. Franklin Resources Inc. now owns 124,916 shares of the financial services provider's stock valued at $13,130,000 after purchasing an additional 3,707 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Iron Mountain

In related news, Director Walter C. Rakowich sold 900 shares of the firm's stock in a transaction 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 completion of the transaction, the director owned 36,515 shares of the company's stock, valued at $3,650,404.55. This trade represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Greg W. Mcintosh sold 17,334 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the transaction, the executive vice president directly owned 35,446 shares of the company's stock, valued at approximately $3,544,600. This trade represents a 32.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 170,882 shares of company stock worth $17,007,738. 1.90% of the stock is currently owned by company insiders.

Iron Mountain Trading Down 3.4%

Shares of NYSE:IRM traded down $3.28 on Friday, hitting $94.08. 1,500,940 shares of the company were exchanged, compared to its average volume of 968,117. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The stock's 50 day moving average price is $99.98 and its 200 day moving average price is $95.32. The firm has a market capitalization of $27.76 billion, a P/E ratio of 229.46 and a beta of 1.07.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter last year, the company posted $1.10 earnings per share. The firm's revenue was up 7.9% compared to the same quarter last year. On average, equities analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on IRM. Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Truist Financial initiated 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. Finally, 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 research report on Tuesday, May 27th. One 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's stock. Based on data from MarketBeat, Iron Mountain has an average rating of "Buy" and an average 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.