Amalgamated Bank Sells 3,217 Shares of Iron Mountain Incorporated (NYSE:IRM)

Amalgamated Bank decreased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.9% during the fourth quarter, HoldingsChannel reports. The fund owned 78,993 shares of the financial services provider’s stock after selling 3,217 shares during the quarter. Amalgamated Bank’s holdings in Iron Mountain were worth $5,528,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Manchester Capital Management LLC grew its holdings in Iron Mountain by 6,983.3% during the 3rd quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 419 shares during the last quarter. Blue Trust Inc. grew its stake in shares of 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 last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Iron Mountain in the fourth quarter worth approximately $26,000. CVA Family Office LLC bought a new stake in shares of Iron Mountain during the 4th quarter worth approximately $32,000. Finally, Muzinich & Co. Inc. purchased a new position in Iron Mountain during the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In other news, EVP Edward Baker-Greene sold 4,941 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $72.94, for a total value of $360,396.54. Following the transaction, the executive vice president now directly owns 3,365 shares of the company’s stock, valued at $245,443.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Iron Mountain news, Director Wendy J. Murdock sold 1,500 shares of Iron Mountain stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $75.35, for a total transaction of $113,025.00. Following the completion of the sale, the director now directly owns 24,491 shares in the company, valued at approximately $1,845,396.85. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Edward Baker-Greene sold 4,941 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $72.94, for a total transaction of $360,396.54. Following the completion of the sale, the executive vice president now owns 3,365 shares in the company, valued at approximately $245,443.10. The disclosure for this sale can be found here. Insiders sold 149,749 shares of company stock worth $11,748,676 in the last 90 days. Insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

NYSE IRM opened at $76.80 on Tuesday. The firm’s fifty day simple moving average is $78.16 and its two-hundred day simple moving average is $70.11. 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 $22.51 billion, a P/E ratio of 116.37, a P/E/G ratio of 4.51 and a beta of 0.96. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63.

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

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s dividend payout ratio (DPR) is presently 393.95%.

Analyst Upgrades and Downgrades

IRM has been the topic of a number of recent analyst reports. Barclays increased their target price on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Stifel Nicolaus lifted their price objective on shares of Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Wells Fargo & Company upped their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Finally, TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.80.

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.