Perigon Wealth Management LLC Purchases 406 Shares of Iron Mountain Incorporated (NYSE:IRM)

Perigon Wealth Management LLC grew its position in Iron Mountain Incorporated (NYSE:IRM) by 11.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,926 shares of the financial services provider’s stock after acquiring an additional 406 shares during the period. Perigon Wealth Management LLC’s holdings in Iron Mountain were worth $275,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Global Retirement Partners LLC boosted its position in shares of Iron Mountain by 1.7% during the fourth quarter. Global Retirement Partners LLC now owns 9,216 shares of the financial services provider’s stock worth $612,000 after acquiring an additional 156 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of 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 worth $82,000 after acquiring an additional 171 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of Iron Mountain by 2.8% during the third quarter. J.W. Cole Advisors Inc. now owns 6,429 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 177 shares during the last quarter. Koshinski Asset Management Inc. boosted its position in shares of Iron Mountain by 4.6% during the third quarter. Koshinski Asset Management Inc. now owns 4,293 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 188 shares during the last quarter. Finally, Aspire Private Capital LLC boosted its position in shares of Iron Mountain by 2.1% during the third quarter. Aspire Private Capital LLC now owns 9,290 shares of the financial services provider’s stock worth $552,000 after acquiring an additional 188 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Price Performance

Iron Mountain stock opened at $74.71 on Wednesday. The firm has a 50-day moving average price of $76.16 and a 200-day moving average price of $68.42. The firm has a market capitalization of $21.84 billion, a PE ratio of 118.59, a price-to-earnings-growth ratio of 4.57 and a beta of 0.94. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78. Iron Mountain Incorporated has a 12-month low of $52.05 and a 12-month 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 (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.48). The firm had revenue of $1.42 billion during 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%. Iron Mountain’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. As a group, equities research analysts forecast that Iron Mountain Incorporated will post 4.16 EPS for the current year.

Iron Mountain Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Iron Mountain

In related news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $78.48, for a total transaction of $156,960.00. Following the completion of the sale, the executive vice president now owns 65,286 shares in the company, valued at approximately $5,123,645.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Daniel Borges sold 996 shares of Iron Mountain stock in a transaction dated Monday, March 4th. The shares were 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 owns 3,095 shares in the company, valued at approximately $247,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $78.48, for a total transaction of $156,960.00. Following the sale, the executive vice president now owns 65,286 shares of the company’s stock, valued at approximately $5,123,645.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,249 shares of company stock worth $11,480,926. 2.20% of the stock is currently owned by insiders.

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.