U.S. Capital Wealth Advisors LLC Sells 105,238 Shares of Iron Mountain Incorporated $IRM

Key Points

• U.S. Capital Wealth Advisors LLC significantly reduced its stake in Iron Mountain by selling 105,238 shares, lowering its ownership by 93.9% to just 6,862 shares valued at approximately $704,000.
• CEO William L. Meaney sold 69,125 shares for around $6.94 million, indicating insider activity amid a broader trend where corporate insiders have sold a total of 236,709 shares worth over $22.55 million in the past 90 days.
• The company declared a quarterly dividend of $0.785 per share, with an annualized dividend yield of 3.1%, and has a notably high dividend payout ratio of 2,242.86%.

U.S. Capital Wealth Advisors LLC lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 93.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 6,862 shares of the financial services provider's stock after selling 105,238 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in Iron Mountain were worth $704,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IRM. Vanguard Group Inc. raised its holdings in shares of Iron Mountain by 0.5% in the first quarter. Vanguard Group Inc. now owns 46,825,734 shares of the financial services provider's stock valued at $4,028,886,000 after purchasing an additional 220,564 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Iron Mountain by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,256,417 shares of the financial services provider's stock worth $366,210,000 after acquiring an additional 37,154 shares during the period. Invesco Ltd. boosted its stake in Iron Mountain by 14.7% in the first quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider's stock valued at $245,124,000 after acquiring an additional 366,134 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Iron Mountain during the 1st quarter worth approximately $192,231,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Iron Mountain by 17.8% in the first quarter. JPMorgan Chase & Co. now owns 2,061,560 shares of the financial services provider's stock valued at $177,377,000 after buying an additional 311,494 shares during the period. Institutional investors own 80.13% of the company's stock.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total transaction of $6,937,385.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total value of $546,300.00. Following the completion of the sale, the executive vice president directly owned 79,081 shares in the company, valued at approximately $7,200,325.05. This represents a 7.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 236,709 shares of company stock worth $22,555,809 in the last 90 days. Corporate insiders own 1.90% of the company's stock.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $100.87 on Friday. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The firm has a market capitalization of $29.79 billion, a P/E ratio of 720.54 and a beta of 1.08. The stock has a 50 day moving average price of $95.35 and a 200-day moving average price of $94.16.

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

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be paid a $0.785 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.14 annualized dividend and a dividend yield of 3.1%. Iron Mountain's dividend payout ratio is presently 2,242.86%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Barclays boosted their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Jefferies Financial Group initiated coverage on shares of Iron Mountain in a research note on Monday. They issued a "buy" rating and a $120.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their price target on shares of Iron Mountain from $112.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $116.83.

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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