State of Alaska Department of Revenue Boosts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

State of Alaska Department of Revenue boosted its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 176,632 shares of the financial services provider's stock after purchasing an additional 2,530 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Iron Mountain worth $15,197,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Key Financial Inc raised its stake in shares of Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after buying an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Iron Mountain in the fourth quarter valued at $26,000. IMG Wealth Management Inc. bought a new stake in shares of Iron Mountain in the fourth quarter valued at $26,000. Cranbrook Wealth Management LLC bought a new stake in shares of Iron Mountain in the first quarter valued at $26,000. Finally, Franchise Capital Ltd bought a new stake in shares of Iron Mountain in the first quarter valued at $39,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Up 0.7%

Iron Mountain stock opened at $102.82 on Wednesday. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The business has a 50-day simple moving average of $94.29 and a 200 day simple moving average of $97.14. The stock has a market cap of $30.34 billion, a price-to-earnings ratio of 250.78 and a beta of 1.09.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its earnings results 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 business had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same period in the previous year, the business earned $1.10 earnings per share. The firm's revenue was up 7.9% on a year-over-year basis. On average, research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's payout ratio is currently 765.85%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Truist Financial assumed coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on 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 boosted their price objective on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. One 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's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $121.71.

Insider Transactions at Iron Mountain

In other news, EVP Greg W. Mcintosh sold 8,398 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $96.14, for a total value of $807,383.72. Following the completion of the transaction, the executive vice president now directly owns 70,114 shares in the company, valued at approximately $6,740,759.96. This represents a 10.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $96.09, for a total value of $6,642,221.25. The disclosure for this sale can be found here. In the last three months, insiders sold 216,673 shares of company stock worth $20,319,408. 1.90% of the stock is currently owned by corporate insiders.

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.

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