Iron Mountain Incorporated $IRM Shares Sold by Knights of Columbus Asset Advisors LLC

Key Points

• Knights of Columbus Asset Advisors LLC reduced its stake in Iron Mountain Incorporated by 37.6%, now holding 66,621 shares valued at approximately $6.8 million.
• CEO William L. Meaney sold 69,125 shares for over $7 million, indicating significant insider activity as total insider sales in the last three months reached $20.3 million.
• Iron Mountain's quarterly earnings topped estimates with $1.24 EPS, and the company recently declared a quarterly dividend of $0.785, reflecting a 3.0% yield.

Knights of Columbus Asset Advisors LLC trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 37.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,621 shares of the financial services provider's stock after selling 40,165 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Iron Mountain were worth $6,833,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IRM. Miracle Mile Advisors LLC boosted its stake in shares of Iron Mountain by 134.7% in the first quarter. Miracle Mile Advisors LLC now owns 7,545 shares of the financial services provider's stock valued at $649,000 after purchasing an additional 4,330 shares during the period. Vert Asset Management LLC grew its stake in shares of Iron Mountain by 5.2% during the first quarter. Vert Asset Management LLC now owns 136,046 shares of the financial services provider's stock valued at $11,705,000 after acquiring an additional 6,780 shares in the last quarter. Courier Capital LLC increased its holdings in Iron Mountain by 7.1% during the 1st quarter. Courier Capital LLC now owns 31,609 shares of the financial services provider's stock worth $2,720,000 after purchasing an additional 2,107 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Iron Mountain by 4.0% in the 1st quarter. Farther Finance Advisors LLC now owns 4,773 shares of the financial services provider's stock valued at $415,000 after purchasing an additional 185 shares in the last quarter. Finally, Ameliora Wealth Management Ltd. grew its position in shares of Iron Mountain by 3,250.0% during the first quarter. Ameliora Wealth Management Ltd. now owns 3,350 shares of the financial services provider's stock worth $288,000 after buying an additional 3,250 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IRM. Barclays raised their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a report on Wednesday, August 20th. Jefferies Financial Group started coverage on Iron Mountain in a report on Monday, September 22nd. They set a "buy" rating and a $120.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Iron Mountain in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $116.83.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total transaction of $7,074,252.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total value 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 approximately $7,200,325.05. The trade was a 7.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 213,375 shares of company stock worth $20,347,156 in the last three months. 1.90% of the stock is owned by company insiders.

Iron Mountain Stock Performance

IRM stock opened at $105.08 on Monday. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The stock has a market capitalization of $31.03 billion, a price-to-earnings ratio of 750.60 and a beta of 1.06. The stock's fifty day moving average is $95.72 and its two-hundred day moving average is $94.90.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.05. The business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.08 EPS. As a group, analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. Iron Mountain's dividend payout ratio is 2,242.86%.

About Iron Mountain

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.

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