Oppenheimer & Co. Inc. Lowers Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Oppenheimer & Co. Inc. reduced its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 30.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,974 shares of the financial services provider's stock after selling 4,012 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Iron Mountain were worth $772,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of IRM. Proficio Capital Partners LLC purchased a new position in shares of Iron Mountain in the 4th quarter valued at about $102,000. Assenagon Asset Management S.A. increased its holdings in Iron Mountain by 3.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 11,538 shares of the financial services provider's stock worth $993,000 after acquiring an additional 388 shares in the last quarter. Miracle Mile Advisors LLC raised its position in 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 acquiring an additional 4,330 shares during the period. Sowell Financial Services LLC purchased a new position in Iron Mountain during the first quarter valued at $285,000. Finally, State of Alaska Department of Revenue grew its position in shares of Iron Mountain by 1.5% in the first 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. 80.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IRM has been the subject of several research analyst reports. Barclays upped their price target on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Truist Financial assumed coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $121.71.

Iron Mountain Trading Up 1.0%

Iron Mountain stock traded up $0.97 during midday trading on Thursday, hitting $100.58. 914,404 shares of the stock were exchanged, compared to its average volume of 1,796,498. The stock has a market capitalization of $29.67 billion, a price-to-earnings ratio of 245.30 and a beta of 1.08. The stock's 50-day simple moving average is $98.41 and its 200 day simple moving average is $96.20. 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 announced its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating analysts' consensus estimates 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% on a year-over-year basis. During the same period last year, the business posted $1.10 EPS. Equities analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be issued a dividend of $0.785 per share. The ex-dividend date is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.12%. Iron Mountain's dividend payout ratio (DPR) is presently 765.85%.

Insider Buying and Selling at Iron Mountain

In related news, Director Walter C. Rakowich sold 900 shares of the 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Greg W. Mcintosh sold 17,334 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total value of $1,733,400.00. Following the completion of the sale, the executive vice president owned 35,446 shares in the company, valued at approximately $3,544,600. This represents a 32.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 240,007 shares of company stock worth $23,649,959. 1.90% of the stock is currently owned by corporate insiders.

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.