Snowden Capital Advisors LLC Sells 46,780 Shares of Iron Mountain Incorporated (NYSE:IRM)

Snowden Capital Advisors LLC reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 72.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,063 shares of the financial services provider's stock after selling 46,780 shares during the period. Snowden Capital Advisors LLC's holdings in Iron Mountain were worth $1,912,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC raised its position in shares of Iron Mountain by 2.3% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 12,711 shares of the financial services provider's stock worth $1,336,000 after purchasing an additional 280 shares during the period. Merit Financial Group LLC grew its holdings in Iron Mountain by 91.5% during the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider's stock worth $1,570,000 after buying an additional 7,137 shares in the last quarter. Somerset Trust Co grew its stake in Iron Mountain by 28.5% in the 4th quarter. Somerset Trust Co now owns 4,685 shares of the financial services provider's stock valued at $492,000 after purchasing an additional 1,040 shares during the period. Premier Path Wealth Partners LLC grew its stake in Iron Mountain by 3.9% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider's stock valued at $299,000 after purchasing an additional 106 shares during the period. Finally, Ameritas Advisory Services LLC grew its stake in Iron Mountain by 5.5% in the 4th quarter. Ameritas Advisory Services LLC now owns 4,092 shares of the financial services provider's stock valued at $430,000 after purchasing an additional 214 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $96.09, for a total transaction of $6,642,221.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now directly owns 288 shares of the company's stock, valued at $26,737.92. This trade represents a 95.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 318,973 shares of company stock worth $29,112,345. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on IRM shares. Wells Fargo & Company cut their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Barclays lowered their target price on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. JPMorgan Chase & Co. lowered their target price 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, Truist Financial initiated coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target on the stock. 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. According to data from MarketBeat, Iron Mountain presently has an average rating of "Buy" and a consensus price target of $121.29.

Iron Mountain Price Performance

Shares of IRM stock traded down $0.51 on Tuesday, hitting $100.55. The stock had a trading volume of 1,056,332 shares, compared to its average volume of 1,848,042. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The firm has a market capitalization of $29.67 billion, a P/E ratio of 164.84, a P/E/G ratio of 5.15 and a beta of 1.08. The company's 50 day moving average price is $88.49 and its 200-day moving average price is $99.84.

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 for the quarter, beating 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 during the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter in the previous year, the business earned $1.10 earnings per share. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current 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. This represents a $3.14 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is presently 765.85%.

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.