Sowell Financial Services LLC Makes New Investment in Iron Mountain Incorporated (NYSE:IRM)

Sowell Financial Services LLC bought a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,314 shares of the financial services provider's stock, valued at approximately $285,000.

Other institutional investors also recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain in the fourth quarter valued at about $26,000. IMG Wealth Management Inc. bought a new position in Iron Mountain in the fourth quarter valued at about $26,000. Cranbrook Wealth Management LLC bought a new position in Iron Mountain in the first quarter valued at about $26,000. Franchise Capital Ltd bought a new position in Iron Mountain in the first quarter valued at about $39,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in Iron Mountain by 46.4% in 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 acquiring an additional 155 shares during the period. Institutional investors own 80.13% of the company's stock.

Iron Mountain Trading Down 1.3%

IRM traded down $1.33 on Friday, hitting $101.32. 2,709,767 shares of the company's stock traded hands, compared to its average volume of 1,780,697. The company's 50 day simple moving average is $95.44 and its 200-day simple moving average is $96.62. The firm has a market cap of $29.89 billion, a price-to-earnings ratio of 247.12 and a beta of 1.09. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued 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 company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The firm's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $1.10 EPS. As a group, 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. Investors of record on Monday, June 16th will be paid a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.10%. The ex-dividend date is Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is presently 765.85%.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Greg W. Mcintosh sold 8,398 shares of Iron Mountain stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $96.14, for a total value of $807,383.72. Following the sale, the executive vice president now owns 70,114 shares of the company's stock, valued at $6,740,759.96. The trade was a 10.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Tuesday, April 1st. The stock was 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. In the last 90 days, insiders have sold 216,673 shares of company stock valued at $20,319,408. 1.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IRM. Truist Financial began coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price on the stock. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Barclays lifted their price objective on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Iron Mountain presently has an average rating of "Buy" and a consensus target price of $121.71.

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.