Praxis Investment Management Inc. Has $1.49 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Praxis Investment Management Inc. lowered its holdings in Iron Mountain Incorporated (NYSE:IRM) by 15.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,280 shares of the financial services provider’s stock after selling 3,210 shares during the quarter. Praxis Investment Management Inc.’s holdings in Iron Mountain were worth $1,487,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of IRM. Wealthfront Advisers LLC lifted its stake in Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock valued at $721,562,000 after acquiring an additional 6,795,792 shares in the last quarter. Norges Bank bought a new position in Iron Mountain during the 4th quarter valued at $348,249,000. Northern Trust Corp lifted its stake in Iron Mountain by 56.1% during the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider’s stock valued at $454,756,000 after acquiring an additional 1,554,746 shares in the last quarter. TD Asset Management Inc. lifted its stake in Iron Mountain by 125.4% during the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock valued at $205,220,000 after acquiring an additional 1,086,308 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted 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 valued at $126,201,000 after acquiring an additional 978,251 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Price Performance

NYSE IRM opened at $101.32 on Friday. The stock has a market capitalization of $29.89 billion, a price-to-earnings ratio of 247.12 and a beta of 1.09. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The business’s fifty day moving average is $95.44 and its 200-day moving average is $96.92.

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

Iron Mountain Dividend Announcement

The company 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 $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Monday, June 16th. Iron Mountain’s dividend payout ratio is currently 765.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IRM shares. Wall Street Zen upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Barclays lifted their target price on Iron Mountain from $118.00 to $121.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 27th. Finally, Truist Financial initiated coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a “buy” rating and a $95.00 target price on the stock. One research 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. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $121.71.

Insider Activity at Iron Mountain

In related news, Director Walter C. Rakowich sold 900 shares of the business’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total value of $89,973.00. Following the sale, the director now directly owns 36,515 shares in the company, valued at approximately $3,650,404.55. The trade was a 2.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $98.77, for a total value of $6,827,476.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 216,673 shares of company stock worth $20,319,408. Company insiders own 1.90% of the company’s stock.

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.