Tectonic Advisors LLC Boosts Stake in Iron Mountain Incorporated (NYSE:IRM)

Tectonic Advisors LLC grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 15.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 115,997 shares of the financial services provider's stock after buying an additional 15,790 shares during the period. Tectonic Advisors LLC's holdings in Iron Mountain were worth $9,980,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC boosted its stake in shares of Iron Mountain by 8.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 8,293 shares of the financial services provider's stock worth $872,000 after buying an additional 647 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Iron Mountain by 1.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 225,063 shares of the financial services provider's stock worth $23,656,000 after acquiring an additional 2,361 shares during the last quarter. IMG Wealth Management Inc. bought a new position in Iron Mountain in the fourth quarter valued at $26,000. Cibc World Markets Corp boosted its stake in shares of Iron Mountain by 12.3% in the 4th quarter. Cibc World Markets Corp now owns 131,714 shares of the financial services provider's stock valued at $13,844,000 after purchasing an additional 14,380 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Iron Mountain by 3.6% during the 4th quarter. Signaturefd LLC now owns 6,241 shares of the financial services provider's stock valued at $656,000 after buying an additional 215 shares during the period. Institutional investors and hedge funds own 80.13% of the company's stock.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total value of $6,937,385.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Greg W. Mcintosh sold 17,334 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the transaction, the executive vice president owned 35,446 shares of the company's stock, valued at approximately $3,544,600. The trade was a 32.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 240,007 shares of company stock valued at $23,649,959 in the last 90 days. Corporate insiders own 1.90% of the company's stock.

Iron Mountain Stock Performance

Shares of NYSE IRM traded up $0.90 during mid-day trading on Wednesday, reaching $98.16. The company's stock had a trading volume of 1,022,764 shares, compared to its average volume of 1,779,314. The stock has a 50-day moving average of $99.89 and a two-hundred day moving average of $95.74. The stock has a market capitalization of $28.96 billion, a P/E ratio of 239.42 and a beta of 1.08. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data 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. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The firm had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter last year, the company posted $1.10 EPS. The firm's quarterly revenue was up 7.9% on a year-over-year basis. Analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 16th were issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is currently 765.85%.

Wall Street Analysts Forecast Growth

A number of analysts have 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 report on Friday, April 18th. Truist Financial started coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective for the company. Finally, Barclays upped their price objective on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Iron Mountain presently has a consensus rating of "Buy" and an average price target of $121.71.

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.