Linscomb Wealth Inc. acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,033 shares of the financial services provider's stock, valued at approximately $433,000.
Other institutional investors also recently bought and sold shares of the company. Cranbrook Wealth Management LLC purchased a new stake in Iron Mountain during the first quarter worth approximately $26,000. Golden State Wealth Management LLC purchased a new stake in Iron Mountain during the first quarter worth approximately $30,000. Ramirez Asset Management Inc. purchased a new stake in Iron Mountain during the first quarter worth approximately $34,000. Wayfinding Financial LLC purchased a new stake in Iron Mountain during the first quarter worth approximately $37,000. Finally, Franchise Capital Ltd purchased a new stake in Iron Mountain during the first quarter worth approximately $39,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.
Iron Mountain Price Performance
IRM opened at $89.67 on Tuesday. The stock has a market capitalization of $26.48 billion, a PE ratio of 640.53 and a beta of 1.07. The firm's fifty day moving average price is $99.30 and its 200 day moving average price is $94.38. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24.
Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The firm's quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 earnings per share. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.
Iron Mountain Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be paid a dividend of $0.785 per share. The ex-dividend date is Monday, September 15th. This represents a $3.14 annualized dividend and a yield of 3.5%. Iron Mountain's payout ratio is presently 2,242.86%.
Insider Buying and Selling at Iron Mountain
In other Iron Mountain news, EVP Greg W. Mcintosh sold 17,334 shares of the business'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 sale, the executive vice president owned 35,446 shares in the company, valued at $3,544,600. The trade was a 32.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $94.55, for a total transaction of $6,535,768.75. The disclosure for this sale can be found here. Insiders have sold 240,007 shares of company stock worth $23,543,507 in the last ninety days. 1.90% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of research firms have recently commented on IRM. 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. JPMorgan Chase & Co. reduced their target price 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. Finally, Wall Street Zen raised 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, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $120.00.
Read Our Latest Stock Report on Iron Mountain
Iron Mountain 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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