1900 Wealth Management LLC Reduces Stock Position in Iron Mountain Incorporated (NYSE:IRM)

1900 Wealth Management LLC cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 30.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,065 shares of the financial services provider’s stock after selling 1,320 shares during the quarter. 1900 Wealth Management LLC’s holdings in Iron Mountain were worth $214,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of IRM. Manchester Capital Management LLC grew its position in shares of Iron Mountain by 6,983.3% in the 3rd quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 419 shares in the last quarter. Blue Trust Inc. grew its position in shares of 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 acquiring an additional 242 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Iron Mountain in the 4th quarter worth approximately $26,000. Hanson & Doremus Investment Management acquired a new position in shares of Iron Mountain in the 3rd quarter worth approximately $28,000. Finally, CVA Family Office LLC acquired a new position in shares of Iron Mountain in the 4th quarter worth approximately $32,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 115,979 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $78.90, for a total value of $9,150,743.10. Following the sale, the chief executive officer now owns 432,682 shares of the company’s stock, valued at approximately $34,138,609.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO William L. Meaney sold 115,979 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $78.90, for a total transaction of $9,150,743.10. Following the sale, the chief executive officer now directly owns 432,682 shares of the company’s stock, valued at $34,138,609.80. The sale was disclosed in a legal 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 stock was sold at an average price of $76.68, for a total value of $1,217,295.00. Following the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $22,670,442. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,124 shares of company stock valued at $12,698,221. Corporate insiders own 2.20% of the company’s stock.

Iron Mountain Trading Up 1.0 %

Shares of IRM stock opened at $76.60 on Wednesday. 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 Incorporated has a 1 year low of $52.81 and a 1 year high of $82.19. The stock has a fifty day moving average of $76.89 and a two-hundred day moving average of $69.04. The firm has a market capitalization of $22.45 billion, a PE ratio of 121.59, a price-to-earnings-growth ratio of 4.56 and a beta of 0.94.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the firm posted $0.98 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. As a group, research analysts expect that Iron Mountain Incorporated will post 4.16 EPS for the current year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s dividend payout ratio is presently 412.70%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IRM shares. Barclays boosted 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. Stifel Nicolaus boosted their price objective on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Finally, Wells Fargo & Company boosted 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Iron Mountain has an average 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.