Hennion & Walsh Asset Management Inc. Cuts Holdings in Iron Mountain Incorporated (NYSE:IRM)

Hennion & Walsh Asset Management Inc. lowered its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 17.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,462 shares of the financial services provider's stock after selling 12,383 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Iron Mountain were worth $4,944,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Wealthfront Advisers LLC boosted its holdings in Iron Mountain by 9,843.3% during the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after purchasing an additional 6,795,792 shares in the last quarter. Norges Bank acquired a new stake in shares of Iron Mountain in the 4th quarter valued at $348,249,000. Northern Trust Corp boosted its stake in shares of Iron Mountain by 56.1% in the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock valued at $454,756,000 after purchasing an additional 1,554,746 shares in the last quarter. TD Asset Management Inc. grew its holdings in shares of Iron Mountain by 125.4% in the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock worth $205,220,000 after purchasing an additional 1,086,308 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of Iron Mountain by 439.8% during the 4th quarter. Point72 Asset Management L.P. now owns 1,200,660 shares of the financial services provider's stock worth $126,201,000 after purchasing an additional 978,251 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Analysts Set New Price Targets

IRM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Truist Financial assumed coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price for the company. Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Barclays raised their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. 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. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $121.71.

Iron Mountain Stock Performance

Iron Mountain stock traded up $1.00 during mid-day trading on Thursday, reaching $101.21. The company's stock had a trading volume of 1,491,247 shares, compared to its average volume of 1,863,426. The business's 50 day simple moving average is $90.72 and its 200 day simple moving average is $98.46. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The company has a market capitalization of $29.86 billion, a price-to-earnings ratio of 165.92, a price-to-earnings-growth ratio of 5.15 and a beta of 1.09.

Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the business earned $1.10 earnings per share. Iron Mountain's quarterly revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be issued a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's payout ratio is presently 765.85%.

Insider Activity at Iron Mountain

In other news, EVP Greg W. Mcintosh sold 8,398 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 70,114 shares of the company's stock, valued at approximately $6,740,759.96. This represents a 10.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $98.77, for a total value of $6,827,476.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 215,773 shares of company stock valued at $20,229,435. 1.90% of the stock is owned by corporate insiders.

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.