Iron Mountain Incorporated $IRM Stock Position Trimmed by Amalgamated Bank

Amalgamated Bank cut its position in Iron Mountain Incorporated (NYSE:IRM) by 5.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,071 shares of the financial services provider’s stock after selling 3,014 shares during the quarter. Amalgamated Bank’s holdings in Iron Mountain were worth $5,854,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of IRM. Financial Network Wealth Advisors LLC bought a new stake in Iron Mountain in the 1st quarter valued at about $26,000. Golden State Wealth Management LLC bought a new stake in shares of Iron Mountain during the 1st quarter worth about $30,000. Ramirez Asset Management Inc. bought a new stake in shares of Iron Mountain during the 1st quarter worth about $34,000. Wayfinding Financial LLC bought a new stake in shares of Iron Mountain during the 1st quarter worth about $37,000. Finally, Richards Merrill & Peterson Inc. acquired a new stake in Iron Mountain in the first quarter worth approximately $43,000. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Price Performance

NYSE IRM opened at $103.12 on Friday. The company’s 50 day simple moving average is $100.12 and its 200 day simple moving average is $97.76. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $127.29. The company has a market capitalization of $30.46 billion, a P/E ratio of 736.60 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last released its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm earned $1.08 EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were given a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is 2,242.86%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total transaction of $546,300.00. Following the sale, the executive vice president directly owned 79,081 shares in the company, valued at approximately $7,200,325.05. This trade represents a 7.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 144,250 shares of company stock worth $13,811,388. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IRM. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday, October 20th. JPMorgan Chase & Co. cut their target price 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 upped 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. Jefferies Financial Group assumed coverage on Iron Mountain in a research report on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.83.

About Iron Mountain

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.