UMB Bank n.a. Cuts Stake in Iron Mountain Incorporated (NYSE:IRM)

UMB Bank n.a. decreased its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 62.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,530 shares of the financial services provider's stock after selling 4,148 shares during the period. UMB Bank n.a.'s holdings in Iron Mountain were worth $218,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund increased its stake in Iron Mountain by 0.4% in 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 acquiring an additional 100 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in 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 valued at $821,000 after acquiring an additional 112 shares during the period. DoubleLine ETF Adviser LP raised its position in 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 valued at $2,214,000 after purchasing an additional 114 shares during the last quarter. One Charles Private Wealth Services LLC raised its position in Iron Mountain by 1.0% during the 4th 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, Secured Retirement Advisors LLC raised its position in shares of Iron Mountain by 6.5% in the 4th quarter. Secured Retirement Advisors LLC now owns 1,967 shares of the financial services provider's stock worth $207,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Performance

Shares of Iron Mountain stock traded down $1.01 during trading hours on Friday, reaching $101.50. 979,247 shares of the company were exchanged, compared to its average volume of 1,849,527. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The stock's fifty day moving average is $93.42 and its 200 day moving average is $97.63. The firm has a market cap of $29.95 billion, a PE ratio of 166.39, a PEG ratio of 5.15 and a beta of 1.09.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. The firm 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 401.83% and a net margin of 2.95%. The business's revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $1.10 earnings per share. Research analysts expect 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. Shareholders of record on Monday, June 16th will be given 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 3.09%. Iron Mountain's payout ratio is currently 765.85%.

Insider Buying and Selling

In related news, Director Walter C. Rakowich sold 900 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the completion of the sale, the director now directly owns 36,515 shares of the company's stock, valued at $3,650,404.55. The trade was a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Friday, May 2nd. The stock was 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. Insiders have sold a total of 216,673 shares of company stock worth $20,319,408 over the last quarter. 1.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IRM. Barclays raised their price objective on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Finally, Truist Financial began coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price on the stock. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Iron Mountain has an average rating of "Buy" and an average price target of $121.71.

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.