Financial Management Professionals Inc. Purchases 140 Shares of Iron Mountain Incorporated (NYSE:IRM)

Financial Management Professionals Inc. raised its position in Iron Mountain Incorporated (NYSE:IRM) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,574 shares of the financial services provider’s stock after buying an additional 140 shares during the quarter. Financial Management Professionals Inc.’s holdings in Iron Mountain were worth $480,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Key Financial Inc increased its position in Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC bought a new position in shares of Iron Mountain during the fourth quarter worth approximately $26,000. IMG Wealth Management Inc. bought a new position in shares of Iron Mountain during the fourth quarter worth approximately $26,000. Franchise Capital Ltd acquired a new stake in shares of Iron Mountain in the first quarter valued at approximately $39,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Iron Mountain by 46.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after buying an additional 155 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on IRM shares. Truist Financial started coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price objective for the company. Barclays upped their price objective 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. JPMorgan Chase & Co. decreased their target price 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. Wells Fargo & Company dropped their target price 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. Finally, Wall Street Zen upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $121.71.

Insider Activity

In related news, EVP Greg W. Mcintosh sold 8,398 shares of Iron Mountain stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total transaction of $807,383.72. Following the sale, the executive vice president now directly owns 70,114 shares in the company, valued at $6,740,759.96. This trade represents a 10.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $98.77, for a total transaction of $6,827,476.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 215,773 shares of company stock valued at $20,229,435. 1.90% of the stock is currently owned by corporate insiders.

Iron Mountain Trading Up 0.6%

IRM opened at $100.06 on Wednesday. The company’s 50 day moving average is $90.42 and its 200-day moving average is $98.44. The company has a market cap of $29.52 billion, a P/E ratio of 164.03, a PEG ratio of 5.15 and a beta of 1.09. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24.

Iron Mountain (NYSE:IRM) last posted its earnings results 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. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 earnings per share. On average, equities analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

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