SeaCrest Wealth Management LLC Trims Stake in Iron Mountain Incorporated (NYSE:IRM)

SeaCrest Wealth Management LLC cut its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 43.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,281 shares of the financial services provider's stock after selling 2,509 shares during the period. SeaCrest Wealth Management LLC's holdings in Iron Mountain were worth $282,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of IRM. Wealthfront Advisers LLC grew its position in shares of Iron Mountain by 9,843.3% in the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock worth $721,562,000 after buying an additional 6,795,792 shares during the period. Northern Trust Corp grew its holdings in Iron Mountain by 56.1% in the fourth quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock worth $454,756,000 after purchasing an additional 1,554,746 shares during the period. Dimensional Fund Advisors LP grew its holdings in Iron Mountain by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider's stock worth $443,476,000 after purchasing an additional 15,097 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Iron Mountain by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider's stock valued at $365,656,000 after purchasing an additional 92,475 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Iron Mountain during the fourth quarter valued at approximately $348,249,000. 80.13% of the stock is owned by institutional investors.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $102.27 on Monday. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The company has a market cap of $30.17 billion, a P/E ratio of 167.66, a PEG ratio of 5.15 and a beta of 1.09. The stock's fifty day moving average price is $91.33 and its 200-day moving average price is $97.99.

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

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be issued a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's dividend payout ratio is currently 765.85%.

Analyst Upgrades and Downgrades

IRM has been the subject of a number of analyst reports. Truist Financial started coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective for the company. Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. JPMorgan Chase & Co. dropped their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th. Finally, Barclays increased their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $121.71.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $98.77, for a total value of $6,827,476.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Walter C. Rakowich sold 900 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the sale, the director now directly owns 36,515 shares of the company's stock, valued at $3,650,404.55. The trade was a 2.41% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 216,673 shares of company stock valued at $20,319,408. Company insiders own 1.90% of the company's stock.

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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