Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 9.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,270 shares of the financial services provider’s stock after selling 2,541 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Iron Mountain were worth $2,002,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wealthfront Advisers LLC raised its holdings in Iron Mountain by 9,843.3% during the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock worth $721,562,000 after purchasing an additional 6,795,792 shares in the last quarter. Norges Bank purchased a new position in shares of Iron Mountain during the fourth quarter worth about $348,249,000. Northern Trust Corp grew its holdings in shares of Iron Mountain by 56.1% during the fourth quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider’s stock worth $454,756,000 after purchasing an additional 1,554,746 shares during the last quarter. TD Asset Management Inc. increased its position in shares of Iron Mountain by 125.4% during the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock worth $205,220,000 after purchasing an additional 1,086,308 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Iron Mountain by 439.8% during the 4th quarter. Point72 Asset Management L.P. now owns 1,200,660 shares of the financial services provider’s stock worth $126,201,000 after buying an additional 978,251 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $96.09, for a total value of $6,642,221.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Greg W. Mcintosh sold 8,398 shares of Iron Mountain stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $96.14, for a total value of $807,383.72. Following the transaction, the executive vice president now owns 70,114 shares of the company’s stock, valued at $6,740,759.96. This represents a 10.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,673 shares of company stock worth $20,319,408 in the last three months. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IRM shares. Truist Financial assumed coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price objective for the company. Wall Street Zen raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Finally, Barclays raised their price target on Iron Mountain from $118.00 to $121.00 and gave the stock an “overweight” rating in a report on Tuesday, May 27th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain currently has a consensus rating of “Buy” and a consensus price target of $121.71.

Iron Mountain Stock Down 1.0%

NYSE IRM opened at $101.50 on Friday. The firm has a 50-day moving average price of $93.42 and a 200 day moving average price of $97.44. The stock has a market capitalization of $29.95 billion, a P/E ratio of 166.39, a P/E/G ratio of 5.15 and a beta of 1.09. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the firm earned $1.10 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. On average, equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal 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 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Monday, June 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 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.