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Iron Mountain Incorporated (NYSE:IRM) Stake Cut by Sargent Investment Group LLC

Iron Mountain logo with Business Services background

Sargent Investment Group LLC lowered its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 2.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,947 shares of the financial services provider's stock after selling 3,691 shares during the quarter. Iron Mountain makes up about 1.7% of Sargent Investment Group LLC's holdings, making the stock its 15th biggest holding. Sargent Investment Group LLC's holdings in Iron Mountain were worth $10,492,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IRM. Northern Trust Corp boosted its position in shares of Iron Mountain by 56.1% during the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock worth $454,756,000 after purchasing an additional 1,554,746 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Iron Mountain by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider's stock worth $443,476,000 after purchasing an additional 15,097 shares in the last quarter. Norges Bank purchased a new stake in shares of Iron Mountain during the 4th quarter worth $348,249,000. Nuveen Asset Management LLC boosted its position in shares of Iron Mountain by 39.0% during the 4th quarter. Nuveen Asset Management LLC now owns 2,548,970 shares of the financial services provider's stock worth $267,922,000 after purchasing an additional 715,024 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Iron Mountain by 17.2% during the 4th quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider's stock worth $260,969,000 after purchasing an additional 363,783 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Wall Street Analysts Forecast Growth

IRM has been the topic of several research analyst reports. Barclays boosted their target price on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Truist Financial started 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. Finally, Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $121.71.

Read Our Latest Report on Iron Mountain

Iron Mountain Trading Up 1.0%

NYSE:IRM traded up $0.98 during trading hours on Friday, hitting $99.67. The stock had a trading volume of 865,519 shares, compared to its average volume of 1,776,550. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The business has a 50 day simple moving average of $99.98 and a two-hundred day simple moving average of $95.61. The company has a market cap of $29.41 billion, a PE ratio of 243.10 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.01. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the company earned $1.10 earnings per share. Iron Mountain's revenue for the quarter was up 7.9% on a year-over-year basis. Research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Walter C. Rakowich sold 900 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total transaction of $89,973.00. Following the completion of the transaction, the director directly owned 36,515 shares in the company, valued at approximately $3,650,404.55. This represents a 2.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Greg W. Mcintosh sold 17,334 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total value of $1,733,400.00. Following the transaction, the executive vice president owned 35,446 shares of the company's stock, valued at approximately $3,544,600. This trade represents a 32.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 240,007 shares of company stock valued at $23,649,959. Corporate insiders own 1.90% of the company's stock.

Iron Mountain Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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