Xponance Inc. Decreases Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Xponance Inc. lowered its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 18.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,614 shares of the financial services provider's stock after selling 17,784 shares during the quarter. Xponance Inc.'s holdings in Iron Mountain were worth $6,936,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Belpointe Asset Management LLC increased its holdings in shares of Iron Mountain by 1.6% in the fourth quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider's stock valued at $821,000 after purchasing an additional 112 shares during the period. DoubleLine ETF Adviser LP increased its holdings in shares of Iron Mountain by 0.5% in the fourth 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 period. Stratos Wealth Partners LTD. increased its holdings in shares of Iron Mountain by 3.7% in the first quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider's stock valued at $285,000 after purchasing an additional 118 shares during the period. One Charles Private Wealth Services LLC increased its holdings in shares of Iron Mountain by 1.0% in the fourth 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 period. Finally, Scotia Capital Inc. increased its holdings in shares of Iron Mountain by 2.8% in the fourth quarter. Scotia Capital Inc. now owns 4,618 shares of the financial services provider's stock valued at $486,000 after purchasing an additional 126 shares during the period. Hedge funds and other institutional investors own 80.13% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Barclays increased their price objective on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a 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. Finally, Truist Financial initiated coverage on Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $121.71.

Insiders Place Their Bets

In other news, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total value of $612,120.00. Following the transaction, the executive vice president owned 91,081 shares in the company, valued at $9,292,083.62. This trade represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Walter C. Rakowich sold 900 shares of the firm'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 value of $89,973.00. Following the completion of the transaction, the director owned 36,515 shares in the company, valued at approximately $3,650,404.55. This trade represents a 2.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 240,007 shares of company stock worth $23,649,959. Company insiders own 1.90% of the company's stock.

Iron Mountain Price Performance

IRM stock traded up $0.90 during mid-day trading on Wednesday, reaching $98.16. 1,022,764 shares of the company's stock were exchanged, compared to its average volume of 1,781,438. The company has a market cap of $28.96 billion, a price-to-earnings ratio of 239.42 and a beta of 1.08. The stock's 50 day moving average is $99.87 and its 200 day moving average is $95.73. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued 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 company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. Iron Mountain's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.10 earnings per share. On average, research analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th were given a dividend of $0.785 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.20%. Iron Mountain's dividend payout ratio is currently 765.85%.

Iron Mountain Company 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.