Courier Capital LLC Sells 697 Shares of Iron Mountain Incorporated $IRM

Courier Capital LLC decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 2.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,912 shares of the financial services provider’s stock after selling 697 shares during the quarter. Courier Capital LLC’s holdings in Iron Mountain were worth $3,171,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of IRM. Financial Network Wealth Advisors LLC purchased a new stake in Iron Mountain in the first quarter worth about $26,000. Golden State Wealth Management LLC purchased a new stake in Iron Mountain in the first quarter worth about $30,000. Ramirez Asset Management Inc. purchased a new stake in Iron Mountain in the first quarter worth about $34,000. Wayfinding Financial LLC purchased a new stake in Iron Mountain in the first quarter worth about $37,000. Finally, Crewe Advisors LLC increased its position in Iron Mountain by 10,000.0% in the first quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock worth $43,000 after buying an additional 500 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Activity

In other news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total value of $7,074,252.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $94.55, for a total value of $6,535,768.75. The disclosure for this sale can be found here. Insiders sold 213,375 shares of company stock valued at $20,347,156 in the last ninety days. Insiders own 1.90% of the company’s stock.

Iron Mountain Price Performance

NYSE:IRM opened at $102.31 on Tuesday. The firm has a market capitalization of $30.22 billion, a price-to-earnings ratio of 730.84 and a beta of 1.06. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The business has a 50 day simple moving average of $96.64 and a 200-day simple moving average of $95.63.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data 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. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company earned $1.08 EPS. As a group, analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were paid a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is presently 2,242.86%.

Analyst Upgrades and Downgrades

A number of analysts have commented on IRM shares. JPMorgan Chase & Co. reduced their price target on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Barclays increased their target price on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Finally, Jefferies Financial Group initiated coverage on Iron Mountain in a report on Monday, September 22nd. They set a “buy” rating and a $120.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $116.83.

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.