Connectus Wealth LLC Has $2.36 Million Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Connectus Wealth LLC lowered its holdings in Iron Mountain Incorporated (NYSE:IRMFree Report) by 35.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,355 shares of the financial services provider’s stock after selling 18,568 shares during the quarter. Connectus Wealth LLC’s holdings in Iron Mountain were worth $2,356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Iron Mountain by 201.7% during the 4th 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 acquired a new stake in shares of Iron Mountain during the 4th quarter worth approximately $26,000. Manchester Capital Management LLC grew its holdings in shares of Iron Mountain by 6,983.3% during the 3rd 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. CVA Family Office LLC acquired a new stake in shares of Iron Mountain during the 4th quarter worth approximately $32,000. Finally, Heritage Wealth Advisors acquired a new stake in shares of Iron Mountain during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Trading Up 0.7 %

Shares of IRM opened at $85.47 on Monday. The stock has a fifty day moving average price of $78.84 and a two-hundred day moving average price of $73.51. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86. Iron Mountain Incorporated has a 52-week low of $53.74 and a 52-week high of $85.63. The company has a market cap of $25.05 billion, a price-to-earnings ratio of 129.50, a PEG ratio of 5.11 and a beta of 0.95.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 annualized dividend and a yield of 3.04%. Iron Mountain’s payout ratio is 393.95%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, April 15th. The stock was sold at an average price of $76.68, for a total value of $1,217,295.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $22,670,442. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares in the company, valued at $22,670,442. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark Kidd sold 4,458 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $80.21, for a total value of $357,576.18. Following the sale, the executive vice president now owns 62,938 shares of the company’s stock, valued at approximately $5,048,256.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,209 shares of company stock worth $3,639,643. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

IRM has been the topic of several recent research reports. TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Barclays raised their target price on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Finally, Wells Fargo & Company raised their target price on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $73.80.

Check Out Our Latest Stock Report on Iron Mountain

About Iron Mountain

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

Receive News & Ratings for Iron Mountain Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iron Mountain and related companies with MarketBeat.com's FREE daily email newsletter.