Iron Mountain Incorporated $IRM Shares Sold by Richard P Slaughter Associates Inc

Richard P Slaughter Associates Inc trimmed its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 12.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,229 shares of the financial services provider’s stock after selling 315 shares during the period. Richard P Slaughter Associates Inc’s holdings in Iron Mountain were worth $229,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of IRM. Wesbanco Bank Inc. acquired a new position in shares of Iron Mountain during the 2nd quarter worth about $208,000. Somerset Trust Co grew its holdings in Iron Mountain by 4.0% during the 2nd quarter. Somerset Trust Co now owns 5,721 shares of the financial services provider’s stock valued at $587,000 after buying an additional 220 shares during the last quarter. RB Capital Management LLC boosted its holdings in shares of Iron Mountain by 1.2% during the second quarter. RB Capital Management LLC now owns 45,619 shares of the financial services provider’s stock worth $4,679,000 after purchasing an additional 521 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs acquired a new stake in Iron Mountain during the first quarter worth about $1,363,000. Finally, Swedbank AB raised its position in Iron Mountain by 4.9% in the first quarter. Swedbank AB now owns 303,030 shares of the financial services provider’s stock valued at $26,073,000 after purchasing an additional 14,092 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Price Performance

IRM opened at $96.82 on Monday. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The stock has a market capitalization of $28.60 billion, a P/E ratio of 691.64 and a beta of 1.08. The company’s 50 day simple moving average is $94.93 and its 200-day simple moving average is $93.39.

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

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be paid a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, September 15th. Iron Mountain’s payout ratio is presently 2,242.86%.

Insider Activity

In other news, EVP Greg W. Mcintosh sold 17,334 shares of Iron Mountain stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total value of $1,733,400.00. Following the completion of the transaction, the executive vice president owned 35,446 shares of the company’s stock, valued at $3,544,600. This trade represents a 32.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction dated Tuesday, September 2nd. The stock was 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 of the company’s stock, valued at $7,200,325.05. The trade was a 7.05% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 236,709 shares of company stock worth $22,555,809. Insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays boosted their price objective on Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. decreased their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $120.17.

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.