Iron Mountain Incorporated $IRM Shares Sold by Strategic Investment Solutions Inc. IL

Strategic Investment Solutions Inc. IL reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 30.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,923 shares of the financial services provider’s stock after selling 840 shares during the period. Strategic Investment Solutions Inc. IL’s holdings in Iron Mountain were worth $197,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IRM. Cranbrook Wealth Management LLC bought a new position in shares of Iron Mountain in the first quarter worth $26,000. Financial Network Wealth Advisors LLC bought a new position in Iron Mountain during the first quarter valued at about $26,000. Golden State Wealth Management LLC bought a new position in Iron Mountain during the first quarter valued at about $30,000. Ramirez Asset Management Inc. acquired a new position in shares of Iron Mountain in the 1st quarter valued at $34,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Iron Mountain in the 1st quarter valued at $37,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Greg W. Mcintosh sold 17,334 shares of the business’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the completion of the transaction, the executive vice president owned 35,446 shares of the company’s stock, valued at approximately $3,544,600. The trade was a 32.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $89.56, for a total value of $6,190,835.00. The disclosure for this sale can be found here. Insiders have sold 236,709 shares of company stock valued at $22,555,809 in the last ninety days. 1.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on Iron Mountain in a research note on Monday. They issued a “buy” rating and a $120.00 price objective for the company. Barclays increased their price objective on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. Finally, JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $116.83.

Iron Mountain Stock Performance

Iron Mountain stock opened at $100.87 on Friday. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The firm has a market cap of $29.79 billion, a P/E ratio of 720.54 and a beta of 1.08. The business’s fifty day moving average is $95.35 and its two-hundred day moving average is $94.16.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the firm posted $1.08 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 15th will be given a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.1%. Iron Mountain’s dividend payout ratio (DPR) is currently 2,242.86%.

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.