Woodstock Corp Reduces Position in Iron Mountain Incorporated (NYSE:IRM)

Woodstock Corp reduced its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 17.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,428 shares of the financial services provider's stock after selling 11,218 shares during the quarter. Woodstock Corp's holdings in Iron Mountain were worth $4,597,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Key Financial Inc grew its position in shares of Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after buying an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC acquired a new position in Iron Mountain during the 4th quarter worth approximately $26,000. IMG Wealth Management Inc. bought a new stake in shares of Iron Mountain during the 4th quarter worth approximately $26,000. Franchise Capital Ltd acquired a new position in shares of Iron Mountain during the 1st quarter worth approximately $39,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after acquiring an additional 155 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IRM has been the subject of several recent analyst reports. Barclays upped their price objective on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Truist Financial initiated 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. JPMorgan Chase & Co. dropped their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. Finally, Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $121.71.

Iron Mountain Price Performance

Shares of NYSE:IRM traded up $1.53 during trading hours on Thursday, hitting $101.74. 512,555 shares of the company's stock traded hands, compared to its average volume of 1,859,705. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The business has a fifty day moving average price of $90.72 and a 200-day moving average price of $98.46. The firm has a market capitalization of $30.02 billion, a P/E ratio of 166.79, a price-to-earnings-growth ratio of 5.15 and a beta of 1.09.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.01. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the firm posted $1.10 earnings per share. The company's revenue was up 7.9% on a year-over-year basis. As a group, equities analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be paid a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's dividend payout ratio is presently 765.85%.

Insider Buying and Selling

In other news, EVP Greg W. Mcintosh sold 8,398 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $96.14, for a total transaction of $807,383.72. Following the transaction, the executive vice president now directly owns 70,114 shares of the company's stock, valued at approximately $6,740,759.96. This represents a 10.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $96.09, for a total value of $6,642,221.25. The disclosure for this sale can be found here. Insiders sold 215,773 shares of company stock valued at $20,229,435 over the last 90 days. Corporate insiders own 1.90% of the company's stock.

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.