Capital Investment Advisors LLC Sells 823 Shares of Iron Mountain Incorporated $IRM

Capital Investment Advisors LLC lowered its position in Iron Mountain Incorporated (NYSE:IRM) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,379 shares of the financial services provider’s stock after selling 823 shares during the quarter. Capital Investment Advisors LLC’s holdings in Iron Mountain were worth $2,398,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Cranbrook Wealth Management LLC bought a new stake in Iron Mountain during the 1st quarter valued at $26,000. Financial Network Wealth Advisors LLC bought a new stake in Iron Mountain during the 1st quarter valued at $26,000. Golden State Wealth Management LLC bought a new stake in Iron Mountain during the 1st quarter valued at $30,000. Ramirez Asset Management Inc. bought a new stake in Iron Mountain during the 1st quarter valued at $34,000. Finally, Wayfinding Financial LLC bought a new stake in Iron Mountain during the 1st quarter valued at $37,000. Institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on IRM shares. Jefferies Financial Group started coverage on Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 target price on the stock. Barclays increased their target price on Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. dropped their target price on 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 research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Buy” and an average target price of $116.83.

Iron Mountain Price Performance

Iron Mountain stock opened at $101.96 on Wednesday. The stock has a market capitalization of $30.11 billion, a price-to-earnings ratio of 728.34 and a beta of 1.08. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The business has a fifty day moving average price of $95.46 and a 200-day moving average price of $94.54.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data 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. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 EPS. On average, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be paid a $0.785 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a yield of 3.1%. Iron Mountain’s dividend payout ratio (DPR) is 2,242.86%.

Insider Buying and Selling

In related news, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total value of $546,300.00. Following the completion of the transaction, the executive vice president owned 79,081 shares in the company, valued at $7,200,325.05. This trade represents a 7.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $89.56, for a total value of $6,190,835.00. The disclosure for this sale can be found here. Insiders sold 144,250 shares of company stock worth $13,272,904 in the last 90 days. Insiders own 1.90% of the company’s stock.

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.