Moran Wealth Management LLC cut its position in Iron Mountain Incorporated (NYSE:IRM – Free Report) by 11.2% in the first quarter, Holdings Channel reports. The firm owned 173,360 shares of the financial services provider’s stock after selling 21,780 shares during the period. Moran Wealth Management LLC’s holdings in Iron Mountain were worth $17,707,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Rothschild Investment LLC increased its holdings in shares of Iron Mountain by 15.4% in the 4th quarter. Rothschild Investment LLC now owns 780 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 104 shares during the period. Corrado Advisors LLC boosted its stake in Iron Mountain by 0.6% during the 4th quarter. Corrado Advisors LLC now owns 19,856 shares of the financial services provider’s stock worth $1,647,000 after purchasing an additional 110 shares during the period. Bank of New Hampshire boosted its stake in Iron Mountain by 14.5% during the 4th quarter. Bank of New Hampshire now owns 910 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 115 shares during the period. Coldstream Capital Management Inc. grew its position in Iron Mountain by 1.6% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,506 shares of the financial services provider’s stock worth $765,000 after purchasing an additional 121 shares during the last quarter. Finally, Clearstead Advisors LLC grew its position in Iron Mountain by 7.5% during the 4th quarter. Clearstead Advisors LLC now owns 1,767 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.
Iron Mountain Stock Down 0.0%
Shares of NYSE IRM opened at $117.13 on Friday. The stock has a market capitalization of $34.85 billion, a price-to-earnings ratio of 128.71 and a beta of 1.19. Iron Mountain Incorporated has a 52 week low of $77.77 and a 52 week high of $134.68. The firm has a 50-day moving average price of $125.74 and a 200 day moving average price of $108.19.
Iron Mountain Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Monday, June 15th will be given a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Monday, June 15th. Iron Mountain’s payout ratio is presently 380.22%.
Insider Buying and Selling
In other news, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $126.70, for a total value of $760,200.00. Following the completion of the transaction, the executive vice president owned 113,507 shares in the company, valued at $14,381,336.90. This trade represents a 5.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of Iron Mountain stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $122.83, for a total value of $4,725,761.42. Following the transaction, the chief executive officer directly owned 38,474 shares of the company’s stock, valued at $4,725,761.42. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 137,260 shares of company stock valued at $17,361,672 in the last three months. 1.70% of the stock is owned by insiders.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the stock. Barclays upped their target price on shares of Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a report on Wednesday. Wells Fargo & Company raised their price target on Iron Mountain from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. upped their price objective on Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, Wall Street Zen raised Iron Mountain from a “hold” rating to a “buy” rating in a research report on Saturday. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Iron Mountain has an average rating of “Moderate Buy” and a consensus target price of $134.33.
Read Our Latest Research Report on IRM
Iron Mountain Profile
Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.
Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.
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