Nisa Investment Advisors LLC Sells 3,215 Shares of Iron Mountain Incorporated (NYSE:IRM)

Nisa Investment Advisors LLC lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,603 shares of the financial services provider's stock after selling 3,215 shares during the quarter. Nisa Investment Advisors LLC's holdings in Iron Mountain were worth $9,524,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IMG Wealth Management Inc. acquired a new stake in shares of Iron Mountain during the fourth quarter worth $26,000. Cranbrook Wealth Management LLC acquired a new stake in shares of Iron Mountain during the first quarter worth $26,000. Golden State Wealth Management LLC acquired a new stake in shares of Iron Mountain during the first quarter worth $30,000. Wayfinding Financial LLC acquired a new stake in shares of Iron Mountain during the first quarter worth $37,000. Finally, Franchise Capital Ltd acquired a new stake in shares of Iron Mountain during the first quarter worth $39,000. Institutional investors own 80.13% of the company's stock.

Insider Transactions at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total transaction of $612,120.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Greg W. Mcintosh sold 17,334 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total value of $1,733,400.00. Following the sale, the executive vice president owned 35,446 shares in the company, valued at $3,544,600. The trade was a 32.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 240,007 shares of company stock valued at $23,649,959 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on IRM shares. Truist Financial started coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective for the company. Barclays lifted their price objective on 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 Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $121.71.

Iron Mountain Stock Performance

NYSE:IRM traded down $1.03 on Friday, reaching $97.93. The company's stock had a trading volume of 1,057,349 shares, compared to its average volume of 1,785,140. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The firm has a market cap of $28.89 billion, a PE ratio of 238.85 and a beta of 1.08. The business's 50-day moving average price is $99.85 and its two-hundred day moving average price is $95.90.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.01. The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. Iron Mountain's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 earnings per share. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders 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 3.21%. Iron Mountain's dividend payout ratio is currently 765.85%.

Iron Mountain 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.