Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Richard P Slaughter Associates Inc

Richard P Slaughter Associates Inc lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 71.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,544 shares of the financial services provider’s stock after selling 6,303 shares during the period. Richard P Slaughter Associates Inc’s holdings in Iron Mountain were worth $219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in IRM. Caprock Group LLC increased its stake in shares of Iron Mountain by 49.7% in the fourth quarter. Caprock Group LLC now owns 7,560 shares of the financial services provider’s stock worth $800,000 after buying an additional 2,511 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Iron Mountain by 36.6% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,341 shares of the financial services provider’s stock worth $1,087,000 after buying an additional 2,768 shares during the last quarter. DAVENPORT & Co LLC increased its stake in shares of Iron Mountain by 3.0% in the fourth quarter. DAVENPORT & Co LLC now owns 25,466 shares of the financial services provider’s stock worth $2,676,000 after buying an additional 735 shares during the last quarter. Spire Wealth Management increased its stake in shares of Iron Mountain by 17.6% in the fourth quarter. Spire Wealth Management now owns 15,374 shares of the financial services provider’s stock worth $1,616,000 after buying an additional 2,305 shares during the last quarter. Finally, Greenleaf Trust increased its stake in shares of Iron Mountain by 2.2% in the fourth quarter. Greenleaf Trust now owns 7,551 shares of the financial services provider’s stock worth $794,000 after buying an additional 165 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In related news, EVP Greg W. Mcintosh sold 8,398 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total transaction of $807,383.72. Following the completion of the sale, the executive vice president now directly owns 70,114 shares of the company’s stock, valued at $6,740,759.96. This represents a 10.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $96.09, for a total transaction of $6,642,221.25. The disclosure for this sale can be found here. In the last three months, insiders sold 215,773 shares of company stock valued at $20,229,435. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Wall Street Zen raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday, April 18th. JPMorgan Chase & Co. decreased their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Truist Financial assumed coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price objective for the company. Finally, Barclays lifted their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an “overweight” rating in a report on Tuesday, May 27th. 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 company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $121.71.

Iron Mountain Trading Up 0.6%

NYSE IRM opened at $100.06 on Wednesday. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The stock has a market cap of $29.52 billion, a price-to-earnings ratio of 164.03, a price-to-earnings-growth ratio of 5.15 and a beta of 1.09. The company has a 50-day moving average price of $90.42 and a two-hundred day moving average price of $98.44.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.16 by $0.01. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. Iron Mountain’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.10 EPS. As a group, equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

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

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.