Symphony Financial Ltd. Co. Has $368,000 Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Symphony Financial Ltd. Co. reduced its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 76.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 4,264 shares of the financial services provider's stock after selling 13,535 shares during the quarter. Symphony Financial Ltd. Co.'s holdings in Iron Mountain were worth $368,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC acquired a new position in Iron Mountain in the 4th quarter valued at approximately $26,000. IMG Wealth Management Inc. bought a new stake in shares of Iron Mountain in the 4th quarter valued at $26,000. Cranbrook Wealth Management LLC bought a new stake in shares of Iron Mountain in the 1st quarter valued at $26,000. Franchise Capital Ltd bought a new stake in shares of Iron Mountain in the 1st quarter valued at $39,000. Finally, Crewe Advisors LLC boosted its stake in shares of Iron Mountain by 10,000.0% in the 1st quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 500 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IRM has been the topic of a number of analyst reports. Truist Financial initiated coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective on the stock. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Barclays upped their price objective on shares of 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 assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $121.71.

Iron Mountain Stock Up 1.8%

Shares of NYSE IRM opened at $103.14 on Tuesday. The firm has a market cap of $30.43 billion, a PE ratio of 251.56 and a beta of 1.09. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The company's fifty day simple moving average is $95.81 and its 200 day simple moving average is $96.50.

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, topping the consensus estimate of $1.16 by $0.01. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the firm earned $1.10 earnings per share. Iron Mountain's revenue was up 7.9% on a year-over-year basis. On average, equities analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be issued a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 annualized dividend and a yield of 3.04%. Iron Mountain's payout ratio is 765.85%.

Insiders Place Their Bets

In other news, EVP Greg W. Mcintosh sold 8,398 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total value of $807,383.72. Following the completion of the sale, the executive vice president now owns 70,114 shares in the company, valued at $6,740,759.96. This represents a 10.70% decrease in their ownership of the stock. The sale 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 stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $96.09, for a total transaction of $6,642,221.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 216,673 shares of company stock worth $20,319,408. Insiders own 1.90% of the company's stock.

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.

Want to see what other hedge funds are holding IRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iron Mountain Incorporated (NYSE:IRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.