Dynamic Advisor Solutions LLC Has $265,000 Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Dynamic Advisor Solutions LLC raised its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 25.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,075 shares of the financial services provider’s stock after purchasing an additional 619 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Iron Mountain were worth $265,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Institute for Advanced Investment Management LLP increased its holdings in shares of Iron Mountain by 6.6% during the 1st quarter. American Institute for Advanced Investment Management LLP now owns 10,870 shares of the financial services provider’s stock valued at $935,000 after acquiring an additional 670 shares during the last quarter. Foresight Capital Management Advisors Inc. lifted its position in shares of Iron Mountain by 1.0% during the 1st quarter. Foresight Capital Management Advisors Inc. now owns 88,185 shares of the financial services provider’s stock worth $7,587,000 after buying an additional 882 shares during the period. Assenagon Asset Management S.A. raised its position 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 valued at $993,000 after purchasing an additional 388 shares during the last quarter. SG Americas Securities LLC raised its position in Iron Mountain by 1,116.0% in the 1st quarter. SG Americas Securities LLC now owns 60,265 shares of the financial services provider’s stock valued at $5,185,000 after purchasing an additional 55,309 shares during the last quarter. Finally, Ameliora Wealth Management Ltd. raised its position in Iron Mountain by 3,250.0% in the 1st quarter. Ameliora Wealth Management Ltd. now owns 3,350 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 3,250 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Wall Street Zen raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Truist Financial started coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a “buy” rating and a $95.00 price objective for the company. Finally, Barclays lifted their price objective on Iron Mountain from $118.00 to $121.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 27th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $121.71.

Insider Buying and Selling

In other Iron Mountain news, Director Walter C. Rakowich sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total transaction of $89,973.00. Following the transaction, the director now owns 36,515 shares of the company’s stock, valued at $3,650,404.55. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total value of $5,952,353.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 216,673 shares of company stock worth $20,319,408. Corporate insiders own 1.90% of the company’s stock.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $102.69 on Friday. The firm has a market cap of $30.30 billion, a price-to-earnings ratio of 250.47 and a beta of 1.09. The stock’s 50-day moving average is $95.08 and its 200-day moving average is $97.05. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24.

Iron Mountain (NYSE:IRM) last released its earnings results 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. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. Iron Mountain’s revenue was up 7.9% on a year-over-year basis. On average, equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be issued a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 annualized dividend and a yield of 3.06%. Iron Mountain’s payout ratio is presently 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.