Geneos Wealth Management Inc. Trims Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Geneos Wealth Management Inc. lowered its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 71.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,579 shares of the financial services provider’s stock after selling 3,940 shares during the period. Geneos Wealth Management Inc.’s holdings in Iron Mountain were worth $110,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. grew its position in shares of 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 in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Iron Mountain during the fourth quarter worth about $26,000. Harbor Investment Advisory LLC grew its position in shares of Iron Mountain by 92.2% during the third quarter. Harbor Investment Advisory LLC now owns 417 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 200 shares in the last quarter. Manchester Capital Management LLC grew its position in shares of Iron Mountain by 6,983.3% during the third quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 419 shares in the last quarter. Finally, First Capital Advisors Group LLC. purchased a new stake in shares of Iron Mountain during the second quarter worth about $25,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In other Iron Mountain news, CAO Daniel Borges sold 996 shares of Iron Mountain stock in a transaction on Monday, March 4th. The stock was sold at an average price of $80.00, for a total transaction of $79,680.00. Following the completion of the sale, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at approximately $247,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Iron Mountain news, CAO Daniel Borges sold 996 shares of Iron Mountain stock in a transaction on Monday, March 4th. The stock was sold at an average price of $80.00, for a total transaction of $79,680.00. Following the completion of the sale, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at approximately $247,600. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, February 5th. The shares were 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 directly owns 295,650 shares of the company’s stock, valued at $20,175,156. The disclosure for this sale can be found here. In the last three months, insiders sold 148,249 shares of company stock valued at $11,480,926. Insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wells Fargo & Company raised their price target on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Barclays raised their price objective on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Finally, Stifel Nicolaus raised their price objective on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.80.

Iron Mountain Price Performance

NYSE:IRM opened at $74.84 on Tuesday. Iron Mountain Incorporated has a 1 year low of $52.05 and a 1 year high of $82.19. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $21.87 billion, a price-to-earnings ratio of 118.80, a PEG ratio of 4.57 and a beta of 0.94. The business has a 50 day simple moving average of $76.05 and a 200-day simple moving average of $68.31.

Iron Mountain (NYSE:IRM) last issued 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 the consensus estimate of $1.45 billion. During the same period in the prior year, the business posted $0.98 earnings per share. Iron Mountain’s revenue was up 11.0% on a year-over-year basis. Equities analysts forecast that Iron Mountain Incorporated will post 4.16 EPS for the current year.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s dividend payout ratio is currently 412.70%.

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.