Iron Mountain Incorporated (NYSE:IRM) Stock Holdings Lifted by Mutual Advisors LLC

Mutual Advisors LLC raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,443 shares of the financial services provider's stock after purchasing an additional 9,598 shares during the period. Mutual Advisors LLC's holdings in Iron Mountain were worth $11,442,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. IMG Wealth Management Inc. acquired a new position in Iron Mountain during the 4th quarter valued at approximately $26,000. Cranbrook Wealth Management LLC acquired a new position in shares of Iron Mountain during the first quarter valued at $26,000. Golden State Wealth Management LLC acquired a new position in shares of Iron Mountain during the first quarter valued at $30,000. Franchise Capital Ltd bought a new position in shares of Iron Mountain during the first quarter worth about $39,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Iron Mountain by 46.4% in 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 owned by institutional investors and hedge funds.

Iron Mountain Trading Up 1.9%

NYSE:IRM traded up $1.92 during midday trading on Friday, hitting $101.53. 914,630 shares of the stock were exchanged, compared to its average volume of 1,798,234. The company has a market capitalization of $29.95 billion, a price-to-earnings ratio of 247.62 and a beta of 1.08. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The business has a 50-day moving average price of $98.73 and a two-hundred day moving average price of $96.13.

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 for the quarter, beating the consensus estimate of $1.16 by $0.01. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The business 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. The company's revenue was up 7.9% on a year-over-year basis. Sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th were paid a $0.785 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $3.14 annualized dividend and a dividend yield of 3.09%. Iron Mountain's dividend payout ratio is currently 765.85%.

Insider Buying and Selling at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total transaction of $612,120.00. Following the completion of the sale, the executive vice president owned 91,081 shares in the company, valued at approximately $9,292,083.62. This represents a 6.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Walter C. Rakowich sold 900 shares of Iron Mountain stock in a transaction 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 transaction, the director owned 36,515 shares in the company, valued at $3,650,404.55. The trade was 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 over the last quarter. Company insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on IRM shares. Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Truist Financial assumed coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective for the company. Finally, Barclays lifted their target price on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. One investment 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 company. According to MarketBeat, Iron Mountain presently has a consensus rating of "Buy" and a consensus 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.