Redhawk Wealth Advisors Inc. Has $1.15 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Redhawk Wealth Advisors Inc. cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 6.7% during the first quarter, HoldingsChannel reports. The fund owned 13,374 shares of the financial services provider’s stock after selling 962 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Iron Mountain were worth $1,151,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Key Financial Inc boosted its holdings in Iron Mountain by 25,100.0% in 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 in the last quarter. Halbert Hargrove Global Advisors LLC bought a new stake in Iron Mountain in the fourth quarter worth $26,000. IMG Wealth Management Inc. bought a new stake in Iron Mountain in the fourth quarter worth $26,000. Cranbrook Wealth Management LLC bought a new stake in Iron Mountain during the first quarter valued at about $26,000. Finally, Franchise Capital Ltd bought a new stake in Iron Mountain during the first quarter valued at about $39,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Iron Mountain Stock Performance

Shares of IRM opened at $101.03 on Wednesday. The company has a 50-day simple moving average of $91.95 and a 200-day simple moving average of $97.88. The firm has a market capitalization of $29.81 billion, a P/E ratio of 165.62, a P/E/G ratio of 5.15 and a beta of 1.09. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM) last announced 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. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 earnings per share. As a group, equities analysts forecast 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 Thursday, July 3rd. Shareholders of record on Monday, June 16th will be paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Monday, June 16th. Iron Mountain’s dividend payout ratio is 765.85%.

Insiders Place Their Bets

In other news, Director Walter C. Rakowich sold 900 shares of the firm’s 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 completion of the sale, the director now owns 36,515 shares of the company’s stock, valued at approximately $3,650,404.55. This trade represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on 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. Insiders sold a total of 216,673 shares of company stock worth $20,319,408 over the last quarter. Company insiders own 1.90% of the company’s stock.

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.