Atria Wealth Solutions Inc. Lowers Position in Iron Mountain Incorporated (NYSE:IRM)

Atria Wealth Solutions Inc. lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 15.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,843 shares of the financial services provider’s stock after selling 7,589 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Iron Mountain were worth $2,879,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Manchester Capital Management LLC lifted 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 valued at $25,000 after purchasing an additional 419 shares in the last quarter. Blue Trust Inc. grew its holdings in Iron Mountain by 201.7% during the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 242 shares during the period. Exchange Traded Concepts LLC bought a new position in Iron Mountain during the fourth quarter worth about $26,000. Hanson & Doremus Investment Management bought a new position in shares of Iron Mountain in the third quarter worth $28,000. Finally, CVA Family Office LLC purchased a new position in Iron Mountain during the fourth quarter valued at approximately $32,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research note 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. Stifel Nicolaus lifted their price target on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, TheStreet cut 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 assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.80.

Iron Mountain Price Performance

IRM stock opened at $77.52 on Monday. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $22.72 billion, a P/E ratio of 123.05, a P/E/G ratio of 4.64 and a beta of 0.94. The firm’s fifty day moving average is $77.46 and its 200 day moving average is $69.42. Iron Mountain Incorporated has a 52 week low of $52.81 and a 52 week high of $82.19.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data 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 net margin of 5.44% and a return on equity of 178.02%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the business posted $0.98 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Research analysts predict that Iron Mountain Incorporated will post 4.18 earnings per share for the current year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders 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 3.35%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 412.70%.

Insider Transactions at Iron Mountain

In related news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $67.43, for a total transaction of $134,860.00. Following the completion of the sale, the executive vice president now directly owns 48,026 shares in the company, valued at approximately $3,238,393.18. The transaction 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 on Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the sale, the chief accounting officer now owns 3,095 shares in the company, valued at $247,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction on 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 $3,238,393.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,124 shares of company stock worth $12,698,221. Insiders own 2.10% of the company’s stock.

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.