Nations Financial Group Inc. IA ADV Sells 941 Shares of Iron Mountain Incorporated $IRM

Nations Financial Group Inc. IA ADV trimmed its holdings in Iron Mountain Incorporated (NYSE:IRM) by 15.8% during the first quarter, Holdings Channel reports. The institutional investor owned 5,014 shares of the financial services provider’s stock after selling 941 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Iron Mountain were worth $431,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cranbrook Wealth Management LLC bought a new position in Iron Mountain in the 1st quarter valued at about $26,000. Financial Network Wealth Advisors LLC bought a new stake in Iron Mountain during the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC purchased a new stake in shares of Iron Mountain in the first quarter worth approximately $30,000. Ramirez Asset Management Inc. bought a new position in shares of Iron Mountain in the first quarter valued at approximately $34,000. Finally, Wayfinding Financial LLC purchased a new position in shares of Iron Mountain during the first quarter valued at approximately $37,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IRM shares. Barclays raised their price objective on 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. dropped their price target on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Iron Mountain has a consensus rating of “Buy” and an average price target of $120.00.

Insider Activity at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was 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 approximately $9,292,083.62. This represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Greg W. Mcintosh sold 17,334 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $3,544,600. This represents a 32.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 240,007 shares of company stock worth $23,543,507. 1.90% of the stock is currently owned by company insiders.

Iron Mountain Trading Up 0.1%

IRM stock opened at $91.47 on Monday. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The stock has a market cap of $27.02 billion, a P/E ratio of 653.40 and a beta of 1.07. The stock’s fifty day simple moving average is $98.61 and its two-hundred day simple moving average is $94.13.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm earned $1.08 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, analysts forecast 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 Friday, October 3rd. Stockholders of record on Monday, September 15th will be paid a dividend of $0.785 per share. The ex-dividend date is Monday, September 15th. This represents a $3.14 annualized dividend and a dividend yield of 3.4%. Iron Mountain’s dividend payout ratio (DPR) is presently 2,242.86%.

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.