Trinity Legacy Partners LLC Sells 5,827 Shares of Iron Mountain Incorporated $IRM

Key Points

• Trinity Legacy Partners LLC reduced its stake in Iron Mountain by 13.1%, selling 5,827 shares and bringing its holdings to 38,642 shares valued at approximately $3.33 million.
• Several institutional investors, including Vanguard Group Inc. and Northern Trust Corp, have increased their positions in Iron Mountain, collectively owning over 80.13% of the company's stock.
• Iron Mountain announced a quarterly dividend of $0.785 per share, which equates to a yield of 3.3% and signifies a strong commitment to returning value to shareholders.

Trinity Legacy Partners LLC decreased its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 13.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 38,642 shares of the financial services provider's stock after selling 5,827 shares during the period. Trinity Legacy Partners LLC's holdings in Iron Mountain were worth $3,325,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Iron Mountain by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 46,825,734 shares of the financial services provider's stock valued at $4,028,886,000 after acquiring an additional 220,564 shares in the last quarter. Northern Trust Corp raised its stake in shares of Iron Mountain by 56.1% during the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock worth $454,756,000 after purchasing an additional 1,554,746 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Iron Mountain by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,256,417 shares of the financial services provider's stock worth $366,210,000 after purchasing an additional 37,154 shares in the last quarter. Invesco Ltd. raised its stake in shares of Iron Mountain by 14.7% during the 1st quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider's stock worth $245,124,000 after purchasing an additional 366,134 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Iron Mountain by 39.0% during the 4th quarter. Nuveen Asset Management LLC now owns 2,548,970 shares of the financial services provider's stock worth $267,922,000 after purchasing an additional 715,024 shares in the last quarter. Institutional investors own 80.13% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IRM. Barclays upped their price objective on Iron Mountain from $121.00 to $122.00 and gave the stock an "overweight" rating in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on Iron Mountain from $112.00 to $100.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $120.17.

Insider Transactions at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total transaction of $612,120.00. Following the sale, the executive vice president directly owned 91,081 shares of the company's stock, valued at approximately $9,292,083.62. This represents a 6.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Greg W. Mcintosh sold 17,334 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total value of $1,733,400.00. Following the sale, the executive vice president directly owned 35,446 shares in the company, valued at approximately $3,544,600. This trade represents a 32.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 231,609 shares of company stock worth $22,736,123 over the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Iron Mountain Trading Up 3.5%

IRM stock opened at $93.7470 on Friday. The firm has a market capitalization of $27.69 billion, a PE ratio of 669.67 and a beta of 1.07. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The business's 50 day simple moving average is $97.62 and its 200 day simple moving average is $93.90.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the firm earned $1.08 EPS. The firm's revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be given a dividend of $0.785 per share. The ex-dividend date is Monday, September 15th. This represents a $3.14 annualized dividend and a yield of 3.3%. Iron Mountain's dividend payout ratio (DPR) is presently 2,242.86%.

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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