World Investment Advisors Has $472,000 Stock Position in Iron Mountain Incorporated (NYSE:IRM)

World Investment Advisors cut its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 35.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,484 shares of the financial services provider's stock after selling 3,050 shares during the quarter. World Investment Advisors' holdings in Iron Mountain were worth $472,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. IMG Wealth Management Inc. acquired a new position in Iron Mountain during the fourth quarter worth about $26,000. Cranbrook Wealth Management LLC acquired a new position in Iron Mountain during the first quarter worth about $26,000. Golden State Wealth Management LLC acquired a new position in Iron Mountain during the first quarter worth about $30,000. Wayfinding Financial LLC acquired a new position in Iron Mountain during the first quarter worth about $37,000. Finally, Franchise Capital Ltd acquired a new position in Iron Mountain during the first quarter worth about $39,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Price Performance

IRM traded down $1.03 on Friday, reaching $97.93. 1,057,349 shares of the company traded hands, compared to its average volume of 1,785,140. The stock's 50 day moving average price is $99.85 and its 200-day moving average price is $95.90. The company has a market cap of $28.89 billion, a price-to-earnings ratio of 238.85 and a beta of 1.08. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24.

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, beating the consensus estimate of $1.16 by $0.01. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.10 EPS. As a group, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th were issued a $0.785 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.21%. Iron Mountain's payout ratio is presently 765.85%.

Insider Buying and Selling

In other news, EVP Greg W. Mcintosh sold 17,334 shares of Iron Mountain stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the transaction, the executive vice president directly owned 35,446 shares of the company's stock, valued at $3,544,600. This trade represents a 32.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 240,007 shares of company stock valued at $23,649,959. 1.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Truist Financial assumed coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Barclays upped their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Iron Mountain currently has a consensus rating of "Buy" and an average target price 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.