Iron Mountain Incorporated $IRM Position Lessened by Yousif Capital Management LLC

Yousif Capital Management LLC decreased its stake in Iron Mountain Incorporated (NYSE:IRM) by 0.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,874 shares of the financial services provider’s stock after selling 108 shares during the period. Yousif Capital Management LLC’s holdings in Iron Mountain were worth $5,013,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Financial Network Wealth Advisors LLC bought a new stake in shares of Iron Mountain in the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC bought a new stake in shares of Iron Mountain in the 1st quarter worth approximately $30,000. Ramirez Asset Management Inc. bought a new stake in shares of Iron Mountain in the 1st quarter worth approximately $34,000. Wayfinding Financial LLC bought a new stake in shares of Iron Mountain in the 1st quarter worth approximately $37,000. Finally, Richards Merrill & Peterson Inc. bought a new stake in Iron Mountain during the 1st quarter valued at $43,000. Institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In other news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total transaction of $546,300.00. Following the transaction, the executive vice president owned 79,081 shares in the company, valued at approximately $7,200,325.05. The trade was a 7.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total value of $7,074,252.50. The disclosure for this sale can be found here. Insiders have sold 213,375 shares of company stock worth $20,347,156 in the last three months. 1.90% of the stock is currently owned by insiders.

Iron Mountain Stock Performance

Shares of IRM stock opened at $103.31 on Wednesday. The stock has a market cap of $30.51 billion, a PE ratio of 738.01 and a beta of 1.06. The business’s fifty day moving average is $96.79 and its 200-day moving average is $95.68. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24.

Iron Mountain (NYSE:IRM) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. The business had revenue of $1.68 billion for 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 company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 EPS. Equities research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, September 15th. Iron Mountain’s payout ratio is presently 2,242.86%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IRM. Jefferies Financial Group began coverage on Iron Mountain in a research note on Monday, September 22nd. They set a “buy” rating and a $120.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. JPMorgan Chase & Co. cut their target price on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Finally, Barclays lifted their target price on Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $116.83.

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.