Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 1.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 205,990 shares of the financial services provider's stock after selling 3,029 shares during the period. Moran Wealth Management LLC owned about 0.07% of Iron Mountain worth $17,723,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC acquired a new position in Iron Mountain during the fourth quarter worth $26,000. IMG Wealth Management Inc. purchased a new stake in shares of Iron Mountain during the fourth quarter worth $26,000. Cranbrook Wealth Management LLC purchased a new stake in shares of Iron Mountain during the first quarter worth $26,000. Franchise Capital Ltd purchased a new stake in shares of Iron Mountain during the first quarter worth $39,000. Finally, Crewe Advisors LLC grew its holdings in shares of Iron Mountain by 10,000.0% during the first quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider's stock worth $43,000 after buying an additional 500 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, Director Walter C. Rakowich sold 900 shares of the company's 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 transaction, the director now owns 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $98.77, for a total transaction of $6,827,476.25. The disclosure for this sale can be found here. Insiders have sold 216,673 shares of company stock valued at $20,319,408 over the last 90 days. 1.90% of the stock is owned by insiders.

Iron Mountain Price Performance

Shares of IRM traded up $1.44 during mid-day trading on Friday, reaching $102.35. The stock had a trading volume of 5,698,153 shares, compared to its average volume of 1,792,666. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The business's fifty day moving average is $97.35 and its 200 day moving average is $96.33. The firm has a market cap of $30.20 billion, a price-to-earnings ratio of 249.62 and a beta of 1.09.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data 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. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the firm posted $1.10 earnings per share. Iron Mountain's quarterly revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be given a $0.785 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.07%. Iron Mountain's payout ratio is currently 765.85%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on IRM shares. Truist Financial started coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price for the company. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Finally, Barclays upped their target price on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target 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.