TCV Trust & Wealth Management Inc. Sells 3,462 Shares of Iron Mountain Incorporated (NYSE:IRM)

TCV Trust & Wealth Management Inc. reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,269 shares of the financial services provider's stock after selling 3,462 shares during the period. TCV Trust & Wealth Management Inc.'s holdings in Iron Mountain were worth $12,241,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its position in shares of Iron Mountain by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider's stock worth $2,644,000 after buying an additional 100 shares during the last quarter. Belpointe Asset Management LLC lifted its position in shares of Iron Mountain by 1.6% during the 4th quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider's stock worth $821,000 after buying an additional 112 shares during the last quarter. DoubleLine ETF Adviser LP lifted its position in shares of Iron Mountain by 0.5% during the 4th quarter. DoubleLine ETF Adviser LP now owns 21,064 shares of the financial services provider's stock worth $2,214,000 after buying an additional 114 shares during the last quarter. One Charles Private Wealth Services LLC raised its position in Iron Mountain by 1.0% in the fourth quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider's stock valued at $1,236,000 after purchasing an additional 119 shares during the last quarter. Finally, Scotia Capital Inc. raised its position in Iron Mountain by 2.8% in the fourth quarter. Scotia Capital Inc. now owns 4,618 shares of the financial services provider's stock valued at $486,000 after purchasing an additional 126 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on IRM shares. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. 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 report on Tuesday, May 27th. Finally, Truist Financial began coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective for the company. One investment 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. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $121.71.

Iron Mountain Price Performance

NYSE:IRM traded up $1.44 during trading hours on Friday, hitting $102.35. The stock had a trading volume of 5,698,153 shares, compared to its average volume of 1,792,666. The firm has a market capitalization of $30.20 billion, a price-to-earnings ratio of 249.62 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. The company has a 50 day simple moving average of $97.35 and a two-hundred day simple moving average of $96.33.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 EPS. Equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

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

Insiders Place Their Bets

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 stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total transaction of $5,952,353.75. The disclosure for this sale can be found here. Insiders have sold 216,673 shares of company stock worth $20,319,408 in the last ninety days. 1.90% of the stock is currently owned by insiders.

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.