Rafferty Asset Management LLC Sells 3,087 Shares of Iron Mountain Incorporated (NYSE:IRM)

Rafferty Asset Management LLC trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,608 shares of the financial services provider's stock after selling 3,087 shares during the period. Rafferty Asset Management LLC's holdings in Iron Mountain were worth $4,058,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Key Financial Inc grew its holdings in Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain during the fourth quarter valued at $26,000. IMG Wealth Management Inc. bought a new position in Iron Mountain during the fourth quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Iron Mountain by 46.4% during the fourth 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 period. Finally, Parkworth Wealth Management Inc. bought a new position in Iron Mountain during the fourth quarter valued at $53,000. 80.13% of the stock is owned by institutional investors.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now owns 13,054 shares in the company, valued at $1,211,933.36. This trade represents a 11.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total value of $5,952,353.75. The disclosure for this sale can be found here. Insiders have sold 318,973 shares of company stock worth $29,112,345 over the last 90 days. Corporate insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on IRM shares. JPMorgan Chase & Co. cut their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Truist Financial started coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target for the company. Wells Fargo & Company cut their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Finally, Barclays cut their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $121.29.

Iron Mountain Stock Performance

Shares of IRM stock opened at $100.69 on Monday. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The company has a market capitalization of $29.71 billion, a PE ratio of 165.06, a price-to-earnings-growth ratio of 5.15 and a beta of 1.08. The business's fifty day moving average is $87.89 and its 200 day moving average is $99.97.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the business posted $1.10 earnings per share. The firm's revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be given 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 payout ratio is 765.85%.

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.

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