Iron Mountain Incorporated (NYSE:IRM) Shares Bought by Vectors Research Management LLC

Vectors Research Management LLC increased its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 9.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,076 shares of the financial services provider's stock after buying an additional 3,623 shares during the period. Iron Mountain accounts for 1.3% of Vectors Research Management LLC's holdings, making the stock its 21st biggest position. Vectors Research Management LLC's holdings in Iron Mountain were worth $3,620,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in shares of Iron Mountain during the 4th quarter worth approximately $102,000. Assenagon Asset Management S.A. increased its holdings in Iron Mountain by 3.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 11,538 shares of the financial services provider's stock worth $993,000 after acquiring an additional 388 shares in the last quarter. Miracle Mile Advisors LLC grew its position in shares of Iron Mountain by 134.7% in the first quarter. Miracle Mile Advisors LLC now owns 7,545 shares of the financial services provider's stock valued at $649,000 after purchasing an additional 4,330 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Iron Mountain by 1.5% during the first quarter. State of Alaska Department of Revenue now owns 176,632 shares of the financial services provider's stock worth $15,197,000 after purchasing an additional 2,530 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC raised its position in shares of Iron Mountain by 25.2% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,075 shares of the financial services provider's stock worth $265,000 after purchasing an additional 619 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Insider Activity

In other Iron Mountain news, EVP Greg W. Mcintosh sold 8,398 shares of Iron Mountain stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total transaction of $807,383.72. Following the completion of the sale, the executive vice president now directly owns 70,114 shares in the company, valued at $6,740,759.96. This trade represents a 10.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction that occurred 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 a total of 216,673 shares of company stock valued at $20,319,408 in the last quarter. Insiders own 1.90% of the company's stock.

Iron Mountain Trading Down 2.4%

NYSE:IRM traded down $2.48 during trading hours on Wednesday, hitting $102.77. The company had a trading volume of 1,544,263 shares, compared to its average volume of 1,773,169. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The company has a market cap of $30.32 billion, a P/E ratio of 250.66 and a beta of 1.09. The company has a 50-day moving average of $96.25 and a 200 day moving average of $96.56.

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

Iron Mountain Dividend Announcement

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 given a $0.785 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.06%. Iron Mountain's dividend payout ratio is currently 765.85%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Barclays increased their price objective on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Finally, Truist Financial began coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective on the stock. 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, the stock currently has a consensus rating of "Buy" and a consensus price target of $121.71.

About Iron Mountain

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.