CreativeOne Wealth LLC Sells 6,796 Shares of Iron Mountain Incorporated $IRM

Key Points

• CreativeOne Wealth LLC significantly reduced its holdings in Iron Mountain by 68.5% during the 1st quarter, now owning just 3,119 shares valued at approximately $268,000.
• Iron Mountain reported $1.24 earnings per share for the most recent quarter, surpassing analysts' expectations of $1.19, with a revenue of $1.68 billion, reflecting an 11.6% year-over-year increase.
• The company declared a quarterly dividend of $0.785, with the ex-dividend date set for September 15th, translating to an annualized yield of 3.5%.

CreativeOne Wealth LLC lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 68.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,119 shares of the financial services provider's stock after selling 6,796 shares during the period. CreativeOne Wealth LLC's holdings in Iron Mountain were worth $268,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in IRM. Kestra Private Wealth Services LLC boosted its holdings in shares of Iron Mountain by 14.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider's stock valued at $1,251,000 after purchasing an additional 1,860 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Iron Mountain in the 1st quarter valued at $30,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Iron Mountain by 1.4% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 38,032 shares of the financial services provider's stock valued at $3,272,000 after purchasing an additional 513 shares in the last quarter. Inspire Trust Co. N.A. boosted its holdings in shares of Iron Mountain by 21.4% in the 1st quarter. Inspire Trust Co. N.A. now owns 17,000 shares of the financial services provider's stock valued at $1,463,000 after purchasing an additional 3,000 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Iron Mountain by 76.7% in the 1st quarter. HighTower Advisors LLC now owns 109,124 shares of the financial services provider's stock valued at $9,389,000 after purchasing an additional 47,380 shares in the last quarter. Institutional investors own 80.13% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on IRM. Barclays raised their target price on Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $120.17.

Iron Mountain Trading Down 1.0%

NYSE:IRM traded down $0.91 on Monday, hitting $91.27. The company had a trading volume of 333,128 shares, compared to its average volume of 1,782,220. The stock has a market capitalization of $26.96 billion, a price-to-earnings ratio of 650.94 and a beta of 1.08. The firm has a 50 day moving average of $95.38 and a two-hundred day moving average of $93.23. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 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 net margin of 0.66% and a negative return on equity of 146.80%. The firm's revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 EPS. As a group, equities analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be paid a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.14 annualized dividend and a dividend yield of 3.4%. Iron Mountain's dividend payout ratio (DPR) is presently 2,242.86%.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total transaction of $546,300.00. Following the completion of the transaction, the executive vice president directly owned 79,081 shares of the company's stock, valued at $7,200,325.05. This trade represents a 7.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 value 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 represents a 32.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 236,709 shares of company stock worth $22,555,809 over the last ninety days. Insiders own 1.90% of the company's stock.

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.