Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 169.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 954 shares of the financial services provider’s stock after acquiring an additional 600 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Iron Mountain were worth $74,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in Iron Mountain by 201.7% in the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after buying an additional 242 shares during the period. Ballentine Partners LLC acquired a new position in Iron Mountain in the 4th quarter worth approximately $241,000. Arizona State Retirement System increased its holdings in Iron Mountain by 0.8% in the 4th quarter. Arizona State Retirement System now owns 80,213 shares of the financial services provider’s stock worth $5,613,000 after buying an additional 652 shares during the period. International Assets Investment Management LLC acquired a new position in Iron Mountain in the 4th quarter worth approximately $16,590,000. Finally, Prime Capital Investment Advisors LLC increased its holdings in Iron Mountain by 105.1% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 7,105 shares of the financial services provider’s stock worth $497,000 after buying an additional 3,641 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $81.03, for a total transaction of $1,286,351.25. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $23,956,519.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $81.03, for a total value of $1,286,351.25. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $23,956,519.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Walter C. Rakowich sold 954 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total value of $77,588.82. Following the completion of the sale, the director now directly owns 35,166 shares in the company, valued at approximately $2,860,050.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 96,372 shares of company stock valued at $8,516,435. 2.10% of the stock is currently owned by insiders.

Iron Mountain Price Performance

Shares of NYSE:IRM traded up $3.03 during trading on Tuesday, reaching $107.36. The stock had a trading volume of 1,028,363 shares, compared to its average volume of 1,665,699. The business has a fifty day moving average price of $91.93 and a 200-day moving average price of $81.46. Iron Mountain Incorporated has a 1-year low of $56.51 and a 1-year high of $112.79. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.79. The stock has a market cap of $31.47 billion, a PE ratio of 158.20, a PEG ratio of 6.49 and a beta of 0.98.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 earnings per share. On average, equities analysts forecast that Iron Mountain Incorporated will post 4.22 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s payout ratio is currently 433.33%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on IRM shares. JPMorgan Chase & Co. raised their price objective on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday. Stifel Nicolaus increased their price target on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. The Goldman Sachs Group boosted their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company increased their target price on Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and an average target price of $95.29.

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.