Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Citizens Business Bank

Citizens Business Bank lowered its holdings in Iron Mountain Incorporated (NYSE:IRM) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,800 shares of the financial services provider’s stock after selling 200 shares during the quarter. Citizens Business Bank’s holdings in Iron Mountain were worth $399,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. IMG Wealth Management Inc. acquired a new position in shares of Iron Mountain during the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Iron Mountain in the 4th quarter valued at about $26,000. Key Financial Inc raised its stake 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 purchasing an additional 251 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in 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 acquiring an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new stake in shares of Iron Mountain during the 4th quarter worth about $53,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday, April 18th. Wells Fargo & Company lowered their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Barclays lowered their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Finally, Truist Financial assumed coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 target price for the company. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $121.29.

Insider Buying and Selling at Iron Mountain

In related news, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the transaction, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $96.09, for a total value of $6,642,221.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 318,973 shares of company stock valued at $29,112,345. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $97.18 on Thursday. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The stock’s 50-day moving average is $86.20 and its 200-day moving average is $101.68. The company has a market cap of $28.66 billion, a P/E ratio of 159.31, a P/E/G ratio of 5.15 and a beta of 1.08.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the business posted $1.10 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be issued a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain’s dividend payout ratio is presently 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.