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Madison Asset Management LLC Sells 5,838 Shares of Iron Mountain Incorporated (NYSE:IRM)

Iron Mountain logo with Business Services background

Madison Asset Management LLC trimmed its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 24.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,531 shares of the financial services provider's stock after selling 5,838 shares during the quarter. Madison Asset Management LLC's holdings in Iron Mountain were worth $1,594,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Cranbrook Wealth Management LLC bought a new stake in shares of Iron Mountain in the 1st quarter valued at about $26,000. Golden State Wealth Management LLC bought a new stake in shares of Iron Mountain in the 1st quarter valued at about $30,000. Wayfinding Financial LLC bought a new stake in shares of Iron Mountain in the 1st quarter valued at about $37,000. Franchise Capital Ltd bought a new stake in shares of Iron Mountain in the 1st quarter valued at about $39,000. Finally, Crewe Advisors LLC increased its stake in shares of Iron Mountain by 10,000.0% in the 1st quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 500 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total value of $612,120.00. Following the completion of the transaction, the executive vice president directly owned 91,081 shares in the company, valued at approximately $9,292,083.62. This trade represents a 6.18% 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, Director Walter C. Rakowich sold 900 shares of the stock in a transaction dated 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 owned 36,515 shares of the company's stock, valued at $3,650,404.55. This represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 240,007 shares of company stock valued at $23,649,959 in the last quarter. Corporate insiders own 1.90% of the company's stock.

Iron Mountain Stock Performance

IRM traded up $0.50 during trading hours on Friday, reaching $99.27. The company's stock had a trading volume of 654,672 shares, compared to its average volume of 1,399,010. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The company's 50-day moving average is $100.04 and its 200-day moving average is $95.50. The firm has a market cap of $29.29 billion, a PE ratio of 242.11 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 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. The firm 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 for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.10 EPS. Equities analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 16th were given a dividend of $0.785 per share. The ex-dividend date was Monday, June 16th. This represents a $3.14 annualized dividend and a dividend yield of 3.16%. Iron Mountain's dividend payout ratio is currently 765.85%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays boosted their price objective on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Truist Financial assumed coverage on Iron Mountain in a research report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective for the company. Finally, Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. One equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $121.71.

View Our Latest Analysis on Iron Mountain

About Iron Mountain

(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.

Further Reading

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

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