Iron Mountain Incorporated $IRM Shares Bought by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC increased its holdings in Iron Mountain Incorporated by 4.5% during the first quarter, acquiring an additional 3,802 shares for a total worth of approximately $7.57 million.
• Iron Mountain's shares are currently trading at $93.75, which is a 3.5% increase recently, while the company's market cap stands at $27.69 billion.
• The company has declared a quarterly dividend of $0.785 per share, resulting in an annualized dividend yield of 3.3%, with the ex-dividend date set for September 15th.

Kestra Advisory Services LLC increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 88,000 shares of the financial services provider's stock after purchasing an additional 3,802 shares during the period. Kestra Advisory Services LLC's holdings in Iron Mountain were worth $7,572,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in IRM. Cranbrook Wealth Management LLC purchased a new position in shares of Iron Mountain during the first quarter worth $26,000. Financial Network Wealth Advisors LLC acquired a new position in Iron Mountain during the 1st quarter worth about $26,000. Golden State Wealth Management LLC purchased a new position in Iron Mountain during the 1st quarter valued at about $30,000. Ramirez Asset Management Inc. purchased a new position in Iron Mountain during the 1st quarter valued at about $34,000. Finally, Wayfinding Financial LLC acquired a new position in Iron Mountain in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Wall Street Analyst Weigh In

IRM has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Barclays upped their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $120.17.

Iron Mountain Price Performance

Shares of Iron Mountain stock traded down $0.08 on Friday, reaching $91.89. 542,392 shares of the company were exchanged, compared to its average volume of 1,793,707. The stock's 50 day moving average price is $96.76 and its 200-day moving average price is $93.52. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The company has a market cap of $27.14 billion, a P/E ratio of 657.35 and a beta of 1.07.

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

Iron Mountain Announces Dividend

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

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Walter C. Rakowich sold 900 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total value of $89,973.00. Following the completion of the transaction, the director directly owned 36,515 shares of the company's stock, valued at $3,650,404.55. This trade represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 231,609 shares of company stock valued at $22,736,123 in the last three months. Corporate 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.