Iron Mountain Incorporated (NYSE:IRM) Stock Holdings Trimmed by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. decreased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 1.7% in the 1st quarter, HoldingsChannel reports. The firm owned 77,265 shares of the financial services provider’s stock after selling 1,339 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Iron Mountain were worth $6,648,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. IMG Wealth Management Inc. bought a new position in Iron Mountain in the 4th quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Iron Mountain in the fourth quarter valued at approximately $26,000. Key Financial Inc boosted its holdings in shares of Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 251 shares in the last quarter. Cranbrook Wealth Management LLC acquired a new position in shares of Iron Mountain during the first quarter valued at approximately $26,000. Finally, Franchise Capital Ltd bought a new stake in Iron Mountain during the first quarter worth approximately $39,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total value of $5,952,353.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Greg W. Mcintosh sold 8,398 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total value of $807,383.72. Following the transaction, the executive vice president now directly owns 70,114 shares in the company, valued at $6,740,759.96. The trade was a 10.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 216,673 shares of company stock valued at $20,319,408 in the last three months. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IRM. Barclays lifted their price target on Iron Mountain from $118.00 to $121.00 and gave the company an “overweight” rating in a research 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. Truist Financial began coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They set a “buy” rating and a $95.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered 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 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, Iron Mountain presently has a consensus rating of “Buy” and a consensus price target of $121.71.

Iron Mountain Stock Up 1.6%

NYSE:IRM opened at $102.55 on Friday. The stock has a fifty day simple moving average of $92.92 and a 200 day simple moving average of $97.78. The firm has a market capitalization of $30.26 billion, a price-to-earnings ratio of 168.11, a price-to-earnings-growth 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 announced its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.16 by $0.01. The company had revenue of $1.59 billion during 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 business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the company posted $1.10 earnings per share. Equities analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be given a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.06%. The ex-dividend date is Monday, June 16th. Iron Mountain’s payout ratio is 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.