Sagespring Wealth Partners LLC Invests $275,000 in Iron Mountain Incorporated $IRM

Sagespring Wealth Partners LLC purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,685 shares of the financial services provider’s stock, valued at approximately $275,000.

Several other large investors have also recently added to or reduced their stakes in IRM. Dynamic Advisor Solutions LLC grew its holdings in shares of Iron Mountain by 25.2% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,075 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 619 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Iron Mountain during the 1st quarter valued at about $285,000. Clarius Group LLC increased its holdings in Iron Mountain by 82.3% in the first quarter. Clarius Group LLC now owns 3,595 shares of the financial services provider’s stock worth $309,000 after buying an additional 1,623 shares during the last quarter. Cornerstone Wealth Management LLC lifted its stake in Iron Mountain by 7.0% in the first quarter. Cornerstone Wealth Management LLC now owns 4,407 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 288 shares during the last quarter. Finally, Global X Japan Co. Ltd. increased its stake in shares of Iron Mountain by 24.8% during the 1st quarter. Global X Japan Co. Ltd. now owns 755 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analyst Ratings Changes

IRM has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price target on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Zacks Research cut Iron Mountain from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. Jefferies Financial Group began coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective for the company. Finally, Barclays lifted their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.83.

Insider Transactions at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total transaction of $546,300.00. Following the sale, the executive vice president directly owned 79,081 shares in the company, valued at approximately $7,200,325.05. The trade was a 7.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The disclosure for this sale can be found here. In the last three months, insiders sold 213,375 shares of company stock valued at $20,347,156. Company insiders own 1.90% of the company’s stock.

Iron Mountain Price Performance

NYSE IRM opened at $104.60 on Friday. The company’s fifty day moving average is $97.67 and its two-hundred day moving average is $96.01. The firm has a market capitalization of $30.89 billion, a price-to-earnings ratio of 747.20 and a beta of 1.06. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the company posted $1.08 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were issued a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. Iron Mountain’s payout ratio is 2,242.86%.

About Iron Mountain

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.