Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 14.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,537 shares of the financial services provider’s stock after buying an additional 1,860 shares during the period. Kestra Private Wealth Services LLC’s holdings in Iron Mountain were worth $1,251,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Golden State Wealth Management LLC acquired a new stake in Iron Mountain in the first quarter valued at approximately $30,000. Assenagon Asset Management S.A. grew its position in Iron Mountain by 3.5% in the first quarter. Assenagon Asset Management S.A. now owns 11,538 shares of the financial services provider’s stock valued at $993,000 after acquiring an additional 388 shares in the last quarter. Miracle Mile Advisors LLC grew its position in Iron Mountain by 134.7% in the first quarter. Miracle Mile Advisors LLC now owns 7,545 shares of the financial services provider’s stock valued at $649,000 after acquiring an additional 4,330 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in Iron Mountain in the first quarter valued at approximately $285,000. Finally, State of Alaska Department of Revenue boosted its stake in shares of Iron Mountain by 1.5% during the 1st quarter. State of Alaska Department of Revenue now owns 176,632 shares of the financial services provider’s stock valued at $15,197,000 after buying an additional 2,530 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Up 0.0%

Shares of IRM stock opened at $99.33 on Thursday. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The business’s 50 day moving average is $100.03 and its two-hundred day moving average is $95.52. The company has a market cap of $29.31 billion, a PE ratio of 242.26 and a beta of 1.08.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data 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. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $1.10 earnings per share. As a group, equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th were issued 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 dividend yield of 3.16%. Iron Mountain’s payout ratio is presently 765.85%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on IRM shares. Barclays raised 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. Wall Street Zen upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Finally, Truist Financial began coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a “buy” rating and a $95.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $121.71.

Insiders Place Their Bets

In related news, EVP Greg W. Mcintosh sold 17,334 shares of Iron Mountain stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total value of $1,733,400.00. Following the completion of the sale, the executive vice president directly owned 35,446 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction dated Tuesday, July 1st. The shares were 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 240,007 shares of company stock valued at $23,649,959. 1.90% of the stock is owned by corporate insiders.

About Iron Mountain

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.