Prevail Innovative Wealth Advisors LLC Buys New Stake in Iron Mountain Incorporated (NYSE:IRM)

Prevail Innovative Wealth Advisors LLC bought a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 31,648 shares of the financial services provider's stock, valued at approximately $2,723,000.

Other hedge funds also recently made changes to their positions in the company. Northern Trust Corp raised its stake in Iron Mountain by 56.1% during the fourth quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock valued at $454,756,000 after purchasing an additional 1,554,746 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Iron Mountain by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider's stock valued at $443,476,000 after acquiring an additional 15,097 shares during the last quarter. Norges Bank bought a new position in shares of Iron Mountain in the 4th quarter valued at about $348,249,000. Nuveen Asset Management LLC grew its position in Iron Mountain by 39.0% in the fourth quarter. Nuveen Asset Management LLC now owns 2,548,970 shares of the financial services provider's stock worth $267,922,000 after acquiring an additional 715,024 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Iron Mountain by 17.2% during the fourth quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider's stock worth $260,969,000 after acquiring an additional 363,783 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IRM. Truist Financial initiated coverage on Iron Mountain in a report on Tuesday, April 8th. They issued 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 research note on Friday, April 18th. Finally, Barclays upped their price target on shares of Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $121.71.

Iron Mountain Stock Down 0.8%

IRM stock traded down $0.78 during trading on Tuesday, hitting $97.22. The company had a trading volume of 1,731,127 shares, compared to its average volume of 1,784,473. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The company has a 50 day simple moving average of $99.85 and a 200-day simple moving average of $95.76. The firm has a market capitalization of $28.68 billion, a P/E ratio of 237.12 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, topping 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 company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the business posted $1.10 EPS. Iron Mountain's quarterly revenue was up 7.9% on a year-over-year basis. Sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th were given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is 765.85%.

Insider Buying and Selling at Iron Mountain

In related news, Director Walter C. Rakowich sold 900 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were 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 of the company's stock, valued at $3,650,404.55. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Greg W. Mcintosh sold 17,334 shares of the 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 sale, the executive vice president directly owned 35,446 shares in the company, valued at $3,544,600. This trade represents a 32.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 240,007 shares of company stock worth $23,649,959. 1.90% of the stock is owned by company insiders.

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.