Sequoia Financial Advisors LLC Invests $717,000 in Iron Mountain Incorporated (NYSE:IRM)

Sequoia Financial Advisors LLC purchased a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 10,241 shares of the financial services provider’s stock, valued at approximately $717,000.

Several other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its position in shares of Iron Mountain by 1.7% during the 4th quarter. Global Retirement Partners LLC now owns 9,216 shares of the financial services provider’s stock valued at $612,000 after acquiring an additional 156 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Iron Mountain by 17.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,171 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 171 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of Iron Mountain by 2.8% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,429 shares of the financial services provider’s stock worth $382,000 after buying an additional 177 shares in the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of Iron Mountain by 4.6% in the 3rd quarter. Koshinski Asset Management Inc. now owns 4,293 shares of the financial services provider’s stock worth $255,000 after buying an additional 188 shares during the last quarter. Finally, Aspire Private Capital LLC raised its position in shares of Iron Mountain by 2.1% during the 3rd quarter. Aspire Private Capital LLC now owns 9,290 shares of the financial services provider’s stock valued at $552,000 after buying an additional 188 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

IRM opened at $74.84 on Tuesday. The business has a fifty day moving average of $76.05 and a 200 day moving average of $68.31. The stock has a market cap of $21.87 billion, a P/E ratio of 118.80, a PEG ratio of 4.57 and a beta of 0.94. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. Iron Mountain Incorporated has a 52-week low of $52.05 and a 52-week high of $82.19.

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

Iron Mountain Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total value of $134,860.00. Following the completion of the sale, the executive vice president now owns 48,026 shares in the company, valued at $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. In other Iron Mountain news, EVP Mark Kidd sold 4,458 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $80.21, for a total transaction of $357,576.18. Following the transaction, the executive vice president now directly owns 62,938 shares in the company, valued at approximately $5,048,256.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $67.43, for a total transaction of $134,860.00. Following the transaction, the executive vice president now directly owns 48,026 shares in the company, valued at approximately $3,238,393.18. The disclosure for this sale can be found here. Insiders have sold 148,249 shares of company stock worth $11,480,926 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

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

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.