Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC grew its holdings in Iron Mountain Incorporated (NYSE:IRM) by 4.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,773 shares of the financial services provider’s stock after acquiring an additional 185 shares during the quarter. Farther Finance Advisors LLC’s holdings in Iron Mountain were worth $415,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Proficio Capital Partners LLC acquired a new stake in shares of Iron Mountain in the 4th quarter worth $102,000. Miracle Mile Advisors LLC raised its position in shares of Iron Mountain by 134.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 7,545 shares of the financial services provider’s stock worth $649,000 after purchasing an additional 4,330 shares during the last quarter. Ensign Peak Advisors Inc lifted its position in shares of Iron Mountain by 3.5% in the fourth quarter. Ensign Peak Advisors Inc now owns 232,200 shares of the financial services provider’s stock valued at $24,407,000 after acquiring an additional 7,759 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Iron Mountain by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 55,571 shares of the financial services provider’s stock valued at $5,841,000 after purchasing an additional 5,150 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its position in Iron Mountain by 3.7% during the fourth quarter. Vontobel Holding Ltd. now owns 4,668 shares of the financial services provider’s stock worth $491,000 after acquiring an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays boosted 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. JPMorgan Chase & Co. cut their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Truist Financial began coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They set a “buy” rating and a $95.00 price objective for the company. Finally, Wall Street Zen upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday, April 18th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $121.71.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $102.07 on Tuesday. The company’s fifty day moving average price is $93.92 and its two-hundred day moving average price is $97.10. The firm has a market capitalization of $30.11 billion, a PE ratio of 167.33, a price-to-earnings-growth ratio of 5.15 and a beta of 1.09. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results 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 firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $1.10 EPS. Analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be given a $0.785 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.08%. Iron Mountain’s dividend payout ratio is 765.85%.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $96.09, for a total transaction of $6,642,221.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Greg W. Mcintosh sold 8,398 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $96.14, for a total value of $807,383.72. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 216,673 shares of company stock valued at $20,319,408 in the last 90 days. 1.90% of the stock is owned by insiders.

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.