Iron Mountain Incorporated (NYSE:IRM) Shares Sold by KBC Group NV

KBC Group NV decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 83.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 67,353 shares of the financial services provider’s stock after selling 334,908 shares during the period. KBC Group NV’s holdings in Iron Mountain were worth $5,794,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new stake in Iron Mountain during the fourth quarter worth approximately $26,000. Cranbrook Wealth Management LLC acquired a new position in shares of Iron Mountain in the first quarter worth about $26,000. Golden State Wealth Management LLC purchased a new position in Iron Mountain during the 1st quarter worth approximately $30,000. Franchise Capital Ltd purchased a new stake in shares of Iron Mountain in the first quarter worth approximately $39,000. Finally, Crewe Advisors LLC grew its stake in Iron Mountain by 10,000.0% in the first quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 500 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Truist Financial began coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price objective on the stock. Wall Street Zen upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Finally, Barclays lifted their price target on shares of 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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Iron Mountain currently has a consensus rating of “Buy” and a consensus price target of $121.71.

Insiders Place Their Bets

In other Iron Mountain news, EVP Greg W. Mcintosh sold 17,334 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president directly owned 35,446 shares of the company’s stock, valued at approximately $3,544,600. This trade represents a 32.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Walter C. Rakowich sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total transaction of $89,973.00. Following the completion of the transaction, the director directly owned 36,515 shares in the company, valued at approximately $3,650,404.55. The trade was a 2.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 240,007 shares of company stock worth $23,649,959 in the last ninety days. Insiders own 1.90% of the company’s stock.

Iron Mountain Trading Down 0.3%

Shares of IRM stock opened at $99.59 on Thursday. The firm has a market capitalization of $29.38 billion, a price-to-earnings ratio of 242.90 and a beta of 1.08. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The business’s 50-day moving average price is $98.41 and its 200-day moving average price is $96.20.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.01. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. Iron Mountain’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.10 EPS. On average, sell-side analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be paid a $0.785 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a yield of 3.15%. Iron Mountain’s dividend payout ratio (DPR) is currently 765.85%.

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.