Outlook Wealth Advisors LLC Lowers Position in Iron Mountain Incorporated (NYSE:IRM)

Outlook Wealth Advisors LLC decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,281 shares of the financial services provider’s stock after selling 128 shares during the period. Outlook Wealth Advisors LLC’s holdings in Iron Mountain were worth $626,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Miracle Mile Advisors LLC boosted its holdings in shares of Iron Mountain by 134.7% in the first quarter. Miracle Mile Advisors LLC now owns 7,545 shares of the financial services provider’s stock valued at $649,000 after acquiring an additional 4,330 shares in the last quarter. Cranbrook Wealth Management LLC purchased a new stake in shares of Iron Mountain in the first quarter valued at about $26,000. Chesley Taft & Associates LLC boosted its holdings in shares of Iron Mountain by 2.8% in the first quarter. Chesley Taft & Associates LLC now owns 11,667 shares of the financial services provider’s stock valued at $1,004,000 after acquiring an additional 317 shares in the last quarter. Financial Management Professionals Inc. lifted its stake in shares of Iron Mountain by 2.6% in the first quarter. Financial Management Professionals Inc. now owns 5,574 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 140 shares during the period. Finally, RFG Advisory LLC lifted its stake in shares of Iron Mountain by 28.2% in the first quarter. RFG Advisory LLC now owns 18,183 shares of the financial services provider’s stock valued at $1,564,000 after purchasing an additional 4,005 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director Walter C. Rakowich sold 900 shares of Iron Mountain stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the completion of the sale, the director now directly owns 36,515 shares in the company, valued at $3,650,404.55. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total transaction of $5,952,353.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 216,673 shares of company stock worth $20,319,408. Insiders own 1.90% of the company’s stock.

Iron Mountain Trading Up 1.0%

Shares of IRM opened at $102.27 on Monday. The stock has a market cap of $30.17 billion, a P/E ratio of 167.66, a PEG ratio of 5.15 and a beta of 1.09. The company has a 50-day moving average of $91.33 and a two-hundred day moving average of $97.99. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.01. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.59 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 earnings per share. As a group, analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal 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 given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain’s payout ratio is currently 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.