First National Trust Co Cuts Position in Iron Mountain Incorporated (NYSE:IRM)

First National Trust Co lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 7.1% in the first quarter, HoldingsChannel.com reports. The firm owned 60,200 shares of the financial services provider’s stock after selling 4,579 shares during the quarter. First National Trust Co’s holdings in Iron Mountain were worth $5,180,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Whittier Trust Co. increased its stake in Iron Mountain by 3.4% in the 1st quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 108 shares in the last quarter. Belpointe Asset Management LLC increased its stake in Iron Mountain by 1.6% in the 4th quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider’s stock valued at $821,000 after purchasing an additional 112 shares in the last quarter. DoubleLine ETF Adviser LP increased its stake in Iron Mountain by 0.5% in the 4th quarter. DoubleLine ETF Adviser LP now owns 21,064 shares of the financial services provider’s stock valued at $2,214,000 after purchasing an additional 114 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in Iron Mountain by 3.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 118 shares in the last quarter. Finally, Diversify Advisory Services LLC increased its stake in Iron Mountain by 1.9% in the 1st quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider’s stock valued at $572,000 after purchasing an additional 123 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Greg W. Mcintosh sold 17,334 shares of Iron Mountain stock in a transaction on 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 owned 35,446 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $102.02, for a total value of $612,120.00. Following the completion of the transaction, the executive vice president owned 91,081 shares in the company, valued at $9,292,083.62. The trade was a 6.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 240,007 shares of company stock worth $23,649,959 in the last three months. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Wall Street Zen raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Barclays raised 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. Finally, Truist Financial started coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a “buy” rating and a $95.00 price target for the company. 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.com, the company has an average rating of “Buy” and a consensus price target of $121.71.

Iron Mountain Stock Performance

Iron Mountain stock opened at $99.41 on Wednesday. The company has a market capitalization of $29.33 billion, a price-to-earnings ratio of 242.45 and a beta of 1.08. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The stock has a fifty day moving average of $99.96 and a two-hundred day moving average of $95.41.

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

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th were given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Monday, June 16th. Iron Mountain’s dividend payout ratio is currently 765.85%.

Iron Mountain Company 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.