3,428 Shares in Iron Mountain Incorporated (NYSE:IRM) Acquired by Mechanics Bank Trust Department

Mechanics Bank Trust Department acquired a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,428 shares of the financial services provider's stock, valued at approximately $295,000.

Other large investors have also made changes to their positions in the company. Key Financial Inc lifted its position in shares of Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after buying an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain in the fourth quarter worth approximately $26,000. IMG Wealth Management Inc. purchased a new stake in Iron Mountain during the fourth quarter worth $26,000. Franchise Capital Ltd purchased a new stake in Iron Mountain during the first quarter worth $39,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 155 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

Shares of NYSE:IRM traded up $1.00 during trading on Thursday, hitting $101.21. The company's stock had a trading volume of 1,491,247 shares, compared to its average volume of 1,865,092. The business has a 50 day moving average price of $91.02 and a two-hundred day moving average price of $98.36. The company has a market capitalization of $29.86 billion, a PE ratio of 165.92, a P/E/G ratio of 5.15 and a beta of 1.09. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the firm posted $1.10 earnings per share. The company's revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts expect 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 Thursday, July 3rd. Stockholders of record on Monday, June 16th will be issued a $0.785 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.10%. Iron Mountain's payout ratio is 765.85%.

Insider Activity

In related news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total transaction of $5,952,353.75. The transaction was disclosed in a legal filing 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 transaction of $89,973.00. Following the completion of the transaction, the director now directly owns 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 disclosure for this sale can be found here. Over the last three months, insiders sold 216,673 shares of company stock valued at $20,319,408. Insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IRM. Truist Financial initiated coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price for the company. JPMorgan Chase & Co. lowered their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Barclays raised 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, 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 equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $121.71.

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.