Investor s Fiduciary Advisor Network LLC Sells 3,726 Shares of Iron Mountain Incorporated (NYSE:IRM)

Investor s Fiduciary Advisor Network LLC reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 10.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,949 shares of the financial services provider's stock after selling 3,726 shares during the quarter. Iron Mountain makes up about 1.3% of Investor s Fiduciary Advisor Network LLC's holdings, making the stock its 18th largest position. Investor s Fiduciary Advisor Network LLC's holdings in Iron Mountain were worth $2,662,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. IMG Wealth Management Inc. bought a new stake in shares of Iron Mountain in the 4th quarter worth approximately $26,000. Cranbrook Wealth Management LLC bought a new stake in shares of Iron Mountain in the first quarter valued at $26,000. Golden State Wealth Management LLC bought a new stake in Iron Mountain in the 1st quarter valued at about $30,000. Wayfinding Financial LLC bought a new stake in Iron Mountain in the 1st quarter valued at about $37,000. Finally, Franchise Capital Ltd bought a new stake in Iron Mountain in the 1st quarter valued at about $39,000. 80.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total transaction of $612,120.00. Following the sale, the executive vice president directly owned 91,081 shares of the company's stock, valued at $9,292,083.62. This trade represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders have sold 240,007 shares of company stock worth $23,649,959 over the last quarter. Company insiders own 1.90% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on IRM shares. Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Barclays upped their price target on shares of 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 began coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $121.71.

Iron Mountain Stock Up 1.9%

Shares of IRM traded up $1.92 during trading hours on Friday, reaching $101.53. 914,630 shares of the company traded hands, compared to its average volume of 1,800,671. The company's fifty day moving average price is $99.01 and its two-hundred day moving average price is $96.02. The company has a market capitalization of $29.95 billion, a price-to-earnings ratio of 247.62 and a beta of 1.08. 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 issued its quarterly 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 firm 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 revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.10 EPS. On average, analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th were paid a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is presently 765.85%.

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.