PNC Financial Services Group Inc. Sells 2,105 Shares of Iron Mountain Incorporated (NYSE:IRM)

Posted by Defense World Staff on May 28th, 2023

PNC Financial Services Group Inc. decreased its holdings in Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 4.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,658 shares of the financial services provider’s stock after selling 2,105 shares during the period. PNC Financial Services Group Inc.’s holdings in Iron Mountain were worth $2,176,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Iron Mountain by 440.1% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 767 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 625 shares in the last quarter. Accurate Wealth Management LLC purchased a new stake in Iron Mountain during the fourth quarter valued at $48,000. CENTRAL TRUST Co raised its stake in Iron Mountain by 45.2% during the third quarter. CENTRAL TRUST Co now owns 1,605 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 500 shares in the last quarter. Spire Wealth Management raised its stake in shares of Iron Mountain by 104.1% in the fourth quarter. Spire Wealth Management now owns 1,531 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 781 shares during the period. Finally, Baldwin Brothers LLC MA grew its holdings in shares of Iron Mountain by 67.3% in the fourth quarter. Baldwin Brothers LLC MA now owns 2,008 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 808 shares during the last quarter. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Iron Mountain Stock Down 0.2 %

Shares of Iron Mountain stock opened at $53.58 on Friday. Iron Mountain Incorporated has a 1-year low of $43.33 and a 1-year high of $57.21. The company has a debt-to-equity ratio of 19.91, a current ratio of 0.80 and a quick ratio of 0.80. The business’s fifty day moving average price is $53.56 and its two-hundred day moving average price is $52.95. The company has a market capitalization of $15.62 billion, a P/E ratio of 27.06, a PEG ratio of 3.55 and a beta of 0.91.

Iron Mountain (NYSE:IRM – Get Rating) last issued its earnings results on Thursday, February 23rd. The financial services provider reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.46). Iron Mountain had a return on equity of 88.48% and a net margin of 11.20%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company earned $0.74 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, research analysts forecast that Iron Mountain Incorporated will post 3.77 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 15th will be given a dividend of $0.6185 per share. The ex-dividend date is Wednesday, June 14th. This represents a $2.47 annualized dividend and a dividend yield of 4.62%. Iron Mountain’s dividend payout ratio (DPR) is presently 124.75%.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 17,766 shares of Iron Mountain stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $52.43, for a total value of $931,471.38. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $15,500,929.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $53.72, for a total transaction of $60,435.00. Following the completion of the sale, the executive vice president now owns 63,151 shares of the company’s stock, valued at $3,392,471.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 17,766 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $52.43, for a total value of $931,471.38. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $15,500,929.50. The disclosure for this sale can be found here. Insiders sold 119,660 shares of company stock valued at $6,380,661 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

IRM has been the subject of a number of recent research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 price target on shares of Iron Mountain in a research report on Monday, March 6th. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Sunday, May 21st. Finally, Barclays increased their price objective on Iron Mountain from $56.00 to $64.00 in a report on Friday, May 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $62.00.

Iron Mountain Company Profile

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Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.