Iron Mountain Incorporated (NYSE:IRM) Shares Sold by UMB Bank n.a.

UMB Bank n.a. cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 62.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,530 shares of the financial services provider’s stock after selling 4,148 shares during the quarter. UMB Bank n.a.’s holdings in Iron Mountain were worth $218,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in IRM. Key Financial Inc grew its stake in Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Iron Mountain during the fourth quarter worth about $26,000. IMG Wealth Management Inc. purchased a new stake in Iron Mountain in the fourth quarter valued at approximately $26,000. Cranbrook Wealth Management LLC acquired a new position in Iron Mountain in the 1st quarter worth approximately $26,000. Finally, Franchise Capital Ltd purchased a new position in Iron Mountain during the 1st quarter worth approximately $39,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, Director Walter C. Rakowich sold 900 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the transaction, the director now directly owns 36,515 shares of the company’s stock, valued at $3,650,404.55. This trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total transaction of $5,952,353.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 216,673 shares of company stock valued at $20,319,408. Company insiders own 1.90% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $100.90 on Thursday. The company has a market capitalization of $29.77 billion, a PE ratio of 165.41, a price-to-earnings-growth ratio of 5.15 and a beta of 1.09. The company’s fifty day moving average price is $92.42 and its 200 day moving average price is $97.91. 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 quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.01. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm posted $1.10 earnings per share. The company’s revenue 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be given a dividend of $0.785 per share. The ex-dividend date is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.11%. Iron Mountain’s dividend payout ratio is currently 765.85%.

Analyst Ratings Changes

Several brokerages have commented on IRM. Wall Street Zen upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Truist Financial initiated coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They set a “buy” rating and a $95.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Finally, Barclays increased their price target on Iron Mountain from $118.00 to $121.00 and gave the stock an “overweight” rating in a research 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $121.71.

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.