Royal Fund Management LLC Sells 150 Shares of Iron Mountain Incorporated (NYSE:IRM)

Royal Fund Management LLC lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,419 shares of the financial services provider’s stock after selling 150 shares during the quarter. Royal Fund Management LLC’s holdings in Iron Mountain were worth $1,237,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in Iron Mountain by 201.7% during the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 242 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $26,000. CVA Family Office LLC bought a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $32,000. Transcendent Capital Group LLC bought a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $36,000. Finally, Heritage Wealth Advisors bought a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $38,000. Institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In related news, Director Wendy J. Murdock sold 1,500 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $75.35, for a total value of $113,025.00. Following the completion of the transaction, the director now directly owns 24,491 shares of the company’s stock, valued at $1,845,396.85. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Wendy J. Murdock sold 1,500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $75.35, for a total value of $113,025.00. Following the sale, the director now owns 24,491 shares in the company, valued at approximately $1,845,396.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $22,670,442. The disclosure for this sale can be found here. Insiders sold a total of 63,227 shares of company stock valued at $5,125,392 over the last ninety days. 2.10% of the stock is owned by company insiders.

Iron Mountain Stock Performance

IRM stock traded down $0.25 during midday trading on Monday, hitting $88.61. The stock had a trading volume of 52,893 shares, compared to its average volume of 1,565,739. The firm has a market capitalization of $25.97 billion, a price-to-earnings ratio of 134.64, a P/E/G ratio of 5.26 and a beta of 0.95. Iron Mountain Incorporated has a 52 week low of $53.97 and a 52 week high of $89.91. The stock has a 50-day simple moving average of $80.84 and a 200 day simple moving average of $75.25. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be given a $0.65 dividend. The ex-dividend date is Monday, June 17th. This represents a $2.60 annualized dividend and a yield of 2.93%. Iron Mountain’s dividend payout ratio (DPR) is currently 393.95%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays increased their price objective on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Wells Fargo & Company increased their price objective on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.