Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Royal Fund Management LLC

Royal Fund Management LLC cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,569 shares of the financial services provider’s stock after selling 161 shares during the period. Royal Fund Management LLC’s holdings in Iron Mountain were worth $1,089,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of IRM. Manchester Capital Management LLC raised its position in Iron Mountain by 6,983.3% during the third quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock valued at $25,000 after buying an additional 419 shares during the period. Blue Trust Inc. raised its position in Iron Mountain by 201.7% during the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after buying an additional 242 shares during the period. Exchange Traded Concepts LLC acquired a new position in Iron Mountain during the fourth quarter valued at $26,000. CVA Family Office LLC acquired a new position in Iron Mountain during the fourth quarter valued at $32,000. Finally, Muzinich & Co. Inc. acquired a new position in Iron Mountain during the third quarter valued at $35,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $76.68, for a total value of $1,217,295.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $22,670,442. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $22,670,442. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edward Baker-Greene sold 4,941 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $72.94, for a total value of $360,396.54. Following the sale, the executive vice president now directly owns 3,365 shares of the company’s stock, valued at $245,443.10. The disclosure for this sale can be found here. Insiders sold a total of 162,124 shares of company stock valued at $12,563,361 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IRM. TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Wells Fargo & Company upped their target price on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Barclays upped their target price on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Finally, Stifel Nicolaus upped their target price on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.80.

Iron Mountain Stock Performance

NYSE:IRM traded down $1.68 during mid-day trading on Friday, hitting $75.32. 1,976,983 shares of the company’s stock traded hands, compared to its average volume of 1,240,763. The firm has a 50 day moving average of $78.13 and a two-hundred day moving average of $69.87. Iron Mountain Incorporated has a 12 month low of $52.81 and a 12 month high of $82.19. The firm has a market capitalization of $22.08 billion, a price-to-earnings ratio of 114.12, a price-to-earnings-growth ratio of 4.61 and a beta of 0.96. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.48). The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.45 billion. Iron Mountain had a net margin of 5.45% and a return on equity of 282.93%. Iron Mountain’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.98 EPS. On average, equities analysts forecast that Iron Mountain Incorporated will post 4.18 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 annualized dividend and a yield of 3.45%. Iron Mountain’s dividend payout ratio (DPR) is 393.95%.

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.