Iron Mountain Incorporated (NYSE:IRM) Position Boosted by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7,794.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 341,751 shares of the financial services provider's stock after buying an additional 337,422 shares during the quarter. GAMMA Investing LLC owned about 0.12% of Iron Mountain worth $29,404,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Key Financial Inc increased its stake in Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC purchased a new stake in Iron Mountain in the 4th quarter worth approximately $26,000. IMG Wealth Management Inc. acquired a new position in Iron Mountain in the fourth quarter valued at $26,000. Franchise Capital Ltd purchased a new position in shares of Iron Mountain during the 1st quarter worth about $39,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Iron Mountain by 46.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after purchasing an additional 155 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Up 1.0%

Shares of NYSE IRM traded up $0.99 on Friday, hitting $102.27. The company had a trading volume of 1,845,654 shares, compared to its average volume of 1,865,014. The firm has a market capitalization of $30.17 billion, a P/E ratio of 167.66, a PEG ratio of 5.15 and a beta of 1.09. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The business has a 50 day moving average of $91.02 and a two-hundred day moving average of $98.36.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter in the prior year, the business earned $1.10 EPS. Iron Mountain's quarterly revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be issued a $0.785 dividend. 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 is currently 765.85%.

Analyst Ratings Changes

Several brokerages have recently issued reports on IRM. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. JPMorgan Chase & Co. lowered their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. Barclays raised their price objective on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Finally, Truist Financial assumed coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective on the stock. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Iron Mountain has a consensus rating of "Buy" and an average target price of $121.71.

Insider Buying and Selling at Iron Mountain

In related news, EVP Greg W. Mcintosh sold 8,398 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was 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 owns 70,114 shares in the company, valued at $6,740,759.96. The trade was a 10.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Walter C. Rakowich sold 900 shares of the business'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 transaction, the director now directly owns 36,515 shares of the company's stock, valued at approximately $3,650,404.55. This trade represents a 2.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,673 shares of company stock worth $20,319,408 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

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.