Apollon Wealth Management LLC Sells 4,642 Shares of Iron Mountain Incorporated (NYSE:IRM)

Apollon Wealth Management LLC trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 25.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,578 shares of the financial services provider's stock after selling 4,642 shares during the quarter. Apollon Wealth Management LLC's holdings in Iron Mountain were worth $1,168,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IRM. Cranbrook Wealth Management LLC bought a new stake in Iron Mountain in the 1st quarter valued at $26,000. Golden State Wealth Management LLC bought a new stake in Iron Mountain in the 1st quarter valued at $30,000. Wayfinding Financial LLC bought a new stake in Iron Mountain in the 1st quarter valued at $37,000. Franchise Capital Ltd bought a new stake in Iron Mountain in the 1st quarter valued at $39,000. Finally, Crewe Advisors LLC lifted its position in Iron Mountain by 10,000.0% in the 1st quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 500 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Iron Mountain Trading Up 1.0%

Shares of Iron Mountain stock traded up $0.98 during trading on Friday, hitting $99.67. 865,519 shares of the stock were exchanged, compared to its average volume of 1,773,774. The stock has a market capitalization of $29.41 billion, a price-to-earnings ratio of 243.10 and a beta of 1.08. The company has a fifty day moving average price of $99.93 and a 200-day moving average price of $95.71. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.01. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. Iron Mountain'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 business earned $1.10 EPS. Equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 16th were paid a $0.785 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.15%. Iron Mountain's dividend payout ratio (DPR) is currently 765.85%.

Analyst Ratings Changes

Several brokerages have issued reports on IRM. Truist Financial began coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target on the stock. Barclays lifted their price target on shares of Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Finally, Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Iron Mountain has a consensus rating of "Buy" and a consensus price target of $121.71.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total value of $6,937,385.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $102.02, for a total transaction of $612,120.00. Following the completion of the transaction, the executive vice president owned 91,081 shares in the company, valued at approximately $9,292,083.62. This trade represents a 6.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 240,007 shares of company stock worth $23,649,959 in the last quarter. Corporate insiders own 1.90% of the company's stock.

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.