Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lowered its stake in Iron Mountain Incorporated (NYSE:IRM) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,844 shares of the financial services provider’s stock after selling 3,907 shares during the quarter. Shell Asset Management Co.’s holdings in Iron Mountain were worth $3,873,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Merit Financial Group LLC lifted its holdings in Iron Mountain by 91.5% in the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after acquiring an additional 7,137 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of Iron Mountain by 151.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock valued at $961,000 after acquiring an additional 5,511 shares during the period. Proficio Capital Partners LLC acquired a new stake in Iron Mountain in the 4th quarter worth about $102,000. U.S. Capital Wealth Advisors LLC raised its position in shares of Iron Mountain by 1,453.1% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 113,002 shares of the financial services provider’s stock valued at $11,878,000 after buying an additional 105,726 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in shares of Iron Mountain by 36.6% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,341 shares of the financial services provider’s stock valued at $1,087,000 after buying an additional 2,768 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,211,933.36. This represents a 11.75% 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 the business’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $96.09, for a total transaction of $6,642,221.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 318,973 shares of company stock valued at $29,112,345. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

IRM opened at $99.38 on Friday. The firm has a market cap of $29.32 billion, a P/E ratio of 162.92, a PEG ratio of 5.15 and a beta of 1.08. The firm has a 50-day moving average of $87.57 and a 200 day moving average of $100.51. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the business earned $1.10 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be paid a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.16%. Iron Mountain’s payout ratio is 765.85%.

Wall Street Analysts Forecast Growth

IRM has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Barclays reduced their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Truist Financial began coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $121.29.

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.