Knights of Columbus Asset Advisors LLC Trims Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Key Points

• Knights of Columbus Asset Advisors LLC reduced its holdings in Iron Mountain by 44.2%, selling 84,519 shares and retaining 106,786 shares valued at approximately $9.19 million.
• Insider selling has occurred with significant transactions, including Mark Kidd, EVP, selling 6,000 shares and Walter C. Rakowich, Director, selling 900 shares, indicating a recent decrease in their positions.
• Iron Mountain has a current market capitalization of $29.15 billion with a 52-week range showing a low of $72.33 and a high of $130.24, highlighting recent volatility in stock performance.

Knights of Columbus Asset Advisors LLC cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 44.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,786 shares of the financial services provider's stock after selling 84,519 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Iron Mountain were worth $9,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of IRM. Cranbrook Wealth Management LLC acquired a new stake in Iron Mountain in the first quarter valued at approximately $26,000. Golden State Wealth Management LLC purchased a new stake in shares of Iron Mountain in the first quarter valued at approximately $30,000. Wayfinding Financial LLC acquired a new stake in shares of Iron Mountain in the 1st quarter worth $37,000. Franchise Capital Ltd acquired a new stake in Iron Mountain during the first quarter worth about $39,000. Finally, Crewe Advisors LLC raised its position in shares of Iron Mountain by 10,000.0% during the 1st quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider's stock valued at $43,000 after buying an additional 500 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Trading Up 1.4%

IRM traded up $1.42 during trading hours on Tuesday, hitting $99.42. 309,808 shares of the company's stock were exchanged, compared to its average volume of 1,845,360. The firm has a market cap of $29.33 billion, a P/E ratio of 242.42 and a beta of 1.08. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The firm has a 50 day moving average of $99.98 and a 200 day moving average of $95.38.

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

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 16th were issued a $0.785 dividend. The ex-dividend date was Monday, June 16th. This represents a $3.14 annualized dividend and a yield of 3.16%. Iron Mountain's dividend payout ratio (DPR) is 765.85%.

Insider Activity

In other Iron Mountain news, Director Walter C. Rakowich sold 900 shares of the firm'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 transaction of $89,973.00. Following the sale, the director owned 36,515 shares of the company's stock, valued at approximately $3,650,404.55. This trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Greg W. Mcintosh sold 17,334 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the completion of the transaction, the executive vice president owned 35,446 shares of the company's stock, valued at approximately $3,544,600. The trade was a 32.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 240,007 shares of company stock worth $23,649,959. Insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IRM. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Barclays increased their target price on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Finally, Truist Financial assumed 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. One equities research 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $121.71.

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.