Symphony Financial Ltd. Co. Decreases Holdings in Iron Mountain Incorporated (NYSE:IRM)

Symphony Financial Ltd. Co. lessened its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 76.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,264 shares of the financial services provider’s stock after selling 13,535 shares during the period. Symphony Financial Ltd. Co.’s holdings in Iron Mountain were worth $368,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Wealthfront Advisers LLC increased 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 buying an additional 6,795,792 shares during the last quarter. Northern Trust Corp increased its holdings in 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 buying an additional 1,554,746 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Iron Mountain by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider’s stock worth $443,476,000 after buying an additional 15,097 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Iron Mountain by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider’s stock worth $365,656,000 after buying an additional 92,475 shares during the last quarter. Finally, Norges Bank purchased a new stake in Iron Mountain during the fourth quarter worth about $348,249,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Activity

In other news, EVP Greg W. Mcintosh sold 8,398 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 70,114 shares in the company, valued at approximately $6,740,759.96. This trade represents a 10.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Walter C. Rakowich sold 900 shares of Iron Mountain stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the sale, the director now owns 36,515 shares of the company’s stock, valued at approximately $3,650,404.55. The trade was a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 216,673 shares of company stock worth $20,319,408. 1.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Truist Financial assumed coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They set a “buy” rating and a $95.00 price objective for the company. Wall Street Zen upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Finally, Barclays increased their target price 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. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $121.71.

Iron Mountain Stock Up 1.8%

Shares of NYSE:IRM opened at $103.14 on Tuesday. The company has a 50-day moving average price of $95.81 and a two-hundred day moving average price of $96.50. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The firm has a market capitalization of $30.43 billion, a PE ratio of 251.56 and a beta of 1.09.

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, beating analysts’ consensus estimates of $1.16 by $0.01. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the business earned $1.10 earnings per share. Iron Mountain’s revenue was up 7.9% compared to the same quarter last year. Analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share 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. Stockholders of record on Monday, June 16th will be given a $0.785 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.04%. Iron Mountain’s dividend payout ratio (DPR) is currently 765.85%.

Iron Mountain 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.