Amalgamated Bank Buys 1,571 Shares of Iron Mountain Incorporated (NYSE:IRM)

Amalgamated Bank grew its stake in Iron Mountain Incorporated (NYSE:IRM) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,085 shares of the financial services provider’s stock after acquiring an additional 1,571 shares during the quarter. Amalgamated Bank’s holdings in Iron Mountain were worth $5,170,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. IMG Wealth Management Inc. bought a new stake in Iron Mountain in the fourth quarter valued at approximately $26,000. Cranbrook Wealth Management LLC bought a new position in shares of Iron Mountain during the first quarter worth $26,000. Golden State Wealth Management LLC acquired a new position in shares of Iron Mountain in the 1st quarter valued at $30,000. Franchise Capital Ltd bought a new stake in shares of Iron Mountain in the 1st quarter valued at $39,000. Finally, Crewe Advisors LLC increased its position in shares of Iron Mountain by 10,000.0% in the 1st quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $43,000 after buying an additional 500 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IRM has been the subject of a number of research analyst reports. Wall Street Zen raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Truist Financial initiated coverage on Iron Mountain in a report on Tuesday, April 8th. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Barclays increased their target price 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 issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Iron Mountain presently has an average rating of “Buy” and a consensus price target of $121.71.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total transaction of $6,937,385.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the firm’s 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 completion of the transaction, the executive vice president owned 91,081 shares of the company’s stock, valued at $9,292,083.62. The trade was a 6.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 240,007 shares of company stock worth $23,649,959 in the last three months. 1.90% of the stock is currently owned by company insiders.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $99.59 on Thursday. The firm has a market cap of $29.38 billion, a price-to-earnings ratio of 242.90 and a beta of 1.08. The stock’s 50-day moving average is $98.41 and its 200-day moving average is $96.20. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $1.10 EPS. Iron Mountain’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently announced 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. This represents a $3.14 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain’s dividend payout ratio (DPR) is currently 765.85%.

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.