Flagship Harbor Advisors LLC Has $735,000 Holdings in Iron Mountain Incorporated (NYSE:IRM)

Flagship Harbor Advisors LLC cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,540 shares of the financial services provider’s stock after selling 366 shares during the period. Flagship Harbor Advisors LLC’s holdings in Iron Mountain were worth $735,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. IMG Wealth Management Inc. acquired a new position in shares of Iron Mountain in the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Iron Mountain during the 4th quarter valued at $26,000. Cranbrook Wealth Management LLC acquired a new stake in Iron Mountain during the 1st quarter valued at $26,000. Franchise Capital Ltd acquired a new stake in Iron Mountain during the 1st quarter valued at $39,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 155 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $96.09, for a total value of $6,642,221.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Walter C. Rakowich sold 900 shares of Iron Mountain stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total value of $89,973.00. Following the completion of the sale, the director now directly owns 36,515 shares in the company, valued at $3,650,404.55. This represents a 2.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 216,673 shares of company stock worth $20,319,408. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Barclays raised their price target on Iron Mountain from $118.00 to $121.00 and gave the company an “overweight” rating in a report on Tuesday, May 27th. Wall Street Zen raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday, April 18th. Finally, Truist Financial started coverage on Iron Mountain in a research report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $121.71.

Iron Mountain Stock Up 2.2%

NYSE:IRM opened at $105.32 on Wednesday. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The firm has a market capitalization of $31.07 billion, a P/E ratio of 256.88 and a beta of 1.09. The stock’s fifty day simple moving average is $96.25 and its 200-day simple moving average is $96.56.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the company earned $1.10 EPS. The firm’s revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be issued a dividend of $0.785 per share. The ex-dividend date is Monday, June 16th. This represents a $3.14 annualized dividend and a yield of 2.98%. Iron Mountain’s dividend payout ratio is presently 765.85%.

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.