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

NewEdge Wealth LLC trimmed its holdings in Iron Mountain Incorporated (NYSE:IRM) by 35.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,709 shares of the financial services provider’s stock after selling 5,307 shares during the period. NewEdge Wealth LLC’s holdings in Iron Mountain were worth $679,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Clarius Group LLC bought a new stake in shares of Iron Mountain during the fourth quarter valued at about $200,000. Genesee Capital Advisors LLC increased its holdings in Iron Mountain by 120.7% during the 4th quarter. Genesee Capital Advisors LLC now owns 17,947 shares of the financial services provider’s stock worth $1,256,000 after acquiring an additional 9,814 shares during the period. Perigon Wealth Management LLC increased its holdings in Iron Mountain by 11.5% during the 4th quarter. Perigon Wealth Management LLC now owns 3,926 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 406 shares during the period. Cerity Partners LLC purchased a new stake in Iron Mountain in the 4th quarter worth approximately $737,000. Finally, Sandy Spring Bank grew its position in shares of Iron Mountain by 523.6% during the 4th quarter. Sandy Spring Bank now owns 923 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 775 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

NYSE:IRM opened at $74.71 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. The firm’s fifty day simple moving average is $76.16 and its 200 day simple moving average is $68.42. The stock has a market cap of $21.84 billion, a P/E ratio of 118.59, a price-to-earnings-growth ratio of 4.57 and a beta of 0.94. Iron Mountain Incorporated has a twelve month low of $52.05 and a twelve month high of $82.19.

Iron Mountain (NYSE:IRM) last released its quarterly 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 firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 earnings per share. As a group, research analysts predict that Iron Mountain Incorporated will post 4.16 EPS for the current year.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 412.70%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IRM. Stifel Nicolaus upped their target price on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Wells Fargo & Company upped their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Barclays raised their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Finally, TheStreet lowered shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. One 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.80.

Insider Buying and Selling at Iron Mountain

In other 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 sale, the executive vice president now directly owns 48,026 shares of the company’s stock, valued at approximately $3,238,393.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Iron Mountain news, CEO William L. Meaney sold 115,979 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $78.90, for a total transaction of $9,150,743.10. Following the completion of the sale, the chief executive officer now directly owns 432,682 shares in the company, valued at approximately $34,138,609.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Deborah Marson sold 2,000 shares of the company’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 transaction of $134,860.00. Following the completion of the transaction, the executive vice president now owns 48,026 shares in the company, valued at approximately $3,238,393.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,249 shares of company stock valued at $11,480,926. Corporate insiders own 2.20% of the company’s stock.

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.