Monument Capital Management Has $306,000 Position in Iron Mountain Incorporated (NYSE:IRM)

Monument Capital Management lessened its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 60.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,553 shares of the financial services provider's stock after selling 5,336 shares during the quarter. Monument Capital Management's holdings in Iron Mountain were worth $306,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new stake in Iron Mountain during the 4th quarter worth approximately $102,000. Assenagon Asset Management S.A. raised its position in Iron Mountain by 3.5% in the first quarter. Assenagon Asset Management S.A. now owns 11,538 shares of the financial services provider's stock valued at $993,000 after purchasing an additional 388 shares during the period. Miracle Mile Advisors LLC boosted its position in shares of Iron Mountain by 134.7% during the first quarter. Miracle Mile Advisors LLC now owns 7,545 shares of the financial services provider's stock worth $649,000 after buying an additional 4,330 shares during the period. State of Alaska Department of Revenue increased its position in shares of Iron Mountain by 1.5% during the 1st quarter. State of Alaska Department of Revenue now owns 176,632 shares of the financial services provider's stock valued at $15,197,000 after purchasing an additional 2,530 shares during the period. Finally, Dynamic Advisor Solutions LLC grew its holdings in Iron Mountain by 25.2% during the first quarter. Dynamic Advisor Solutions LLC now owns 3,075 shares of the financial services provider's stock valued at $265,000 after purchasing an additional 619 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Down 2.7%

Shares of Iron Mountain stock traded down $2.77 on Tuesday, hitting $99.81. The company's stock had a trading volume of 2,214,478 shares, compared to its average volume of 1,798,107. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The firm has a fifty day moving average price of $97.77 and a 200-day moving average price of $96.15. The company has a market capitalization of $29.45 billion, a P/E ratio of 243.43 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. The business had revenue of $1.59 billion during 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% compared to the same quarter last year. During the same quarter last year, the firm earned $1.10 earnings per share. As a group, analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Monday, June 16th. Iron Mountain's dividend payout ratio is presently 765.85%.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $98.77, for a total transaction of $6,827,476.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Walter C. Rakowich sold 900 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total value of $89,973.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,548 shares of company stock worth $14,367,054. Corporate insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IRM shares. Truist Financial assumed coverage on Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price for the company. Barclays increased their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Finally, Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently 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.