Iron Mountain Incorporated (NYSE:IRM) Shares Sold by WealthTrust Axiom LLC

WealthTrust Axiom LLC cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 22.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 82,860 shares of the financial services provider’s stock after selling 24,096 shares during the quarter. Iron Mountain accounts for approximately 1.9% of WealthTrust Axiom LLC’s holdings, making the stock its 10th biggest position. WealthTrust Axiom LLC’s holdings in Iron Mountain were worth $5,799,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of IRM. Wellington Management Group LLP lifted its holdings in Iron Mountain by 315.2% in the third quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock valued at $179,079,000 after acquiring an additional 2,286,711 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Iron Mountain by 60.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock valued at $285,960,000 after acquiring an additional 1,546,592 shares during the period. Ameriprise Financial Inc. lifted its holdings in Iron Mountain by 214.7% in the third quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock valued at $103,744,000 after acquiring an additional 1,178,754 shares during the period. Invesco Ltd. lifted its holdings in Iron Mountain by 49.7% in the third quarter. Invesco Ltd. now owns 3,243,435 shares of the financial services provider’s stock valued at $192,822,000 after acquiring an additional 1,077,339 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Iron Mountain by 59.1% in the fourth quarter. Russell Investments Group Ltd. now owns 2,081,786 shares of the financial services provider’s stock valued at $145,879,000 after acquiring an additional 772,988 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IRM has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their target price on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Stifel Nicolaus lifted their price target on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Barclays lifted their price target on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, TheStreet downgraded Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. One equities 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.80.

Iron Mountain Price Performance

Iron Mountain stock traded down $0.30 during midday trading on Tuesday, reaching $77.67. 672,657 shares of the company were exchanged, compared to its average volume of 1,385,353. The company has a market capitalization of $22.77 billion, a price-to-earnings ratio of 123.76, a P/E/G ratio of 4.64 and a beta of 0.94. The firm’s 50-day simple moving average is $77.66 and its 200-day simple moving average is $69.54. Iron Mountain Incorporated has a 1 year low of $52.81 and a 1 year high of $82.19. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The company 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 178.02% and a net margin of 5.44%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 EPS. On average, analysts anticipate that Iron Mountain Incorporated will post 4.18 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain’s dividend payout ratio is presently 412.70%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $68.24, for a total value of $1,083,310.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $20,175,156. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $67.43, for a total transaction of $134,860.00. Following the completion of the sale, the executive vice president now owns 48,026 shares in the company, valued at approximately $3,238,393.18. The sale was disclosed in a document filed 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 dated Monday, February 5th. The stock was sold at an average price of $68.24, for a total value of $1,083,310.00. Following the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $20,175,156. The disclosure for this sale can be found here. Insiders sold 164,124 shares of company stock worth $12,698,221 in the last 90 days. 2.10% of the stock is owned by company insiders.

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.