Golden State Wealth Management LLC Makes New $30,000 Investment in Iron Mountain Incorporated (NYSE:IRM)

Golden State Wealth Management LLC acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 344 shares of the financial services provider’s stock, valued at approximately $30,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of IRM. Proficio Capital Partners LLC acquired a new stake in Iron Mountain during the 4th quarter worth about $102,000. Jones Financial Companies Lllp raised its holdings in Iron Mountain by 153.5% during the 4th quarter. Jones Financial Companies Lllp now owns 7,118 shares of the financial services provider’s stock worth $748,000 after buying an additional 4,310 shares during the period. Raymond James Financial Inc. purchased a new position in Iron Mountain during the 4th quarter valued at about $55,271,000. Callan Family Office LLC purchased a new position in Iron Mountain during the 4th quarter valued at about $364,000. Finally, PNC Financial Services Group Inc. grew its stake in Iron Mountain by 6.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 57,194 shares of the financial services provider’s stock valued at $6,012,000 after acquiring an additional 3,317 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total value of $6,937,385.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Walter C. Rakowich sold 900 shares of the company’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total value of $89,973.00. Following the completion of the sale, the director owned 36,515 shares in the company, valued at $3,650,404.55. This trade represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 240,007 shares of company stock valued at $23,649,959. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wall Street Zen raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Barclays boosted their target price on Iron Mountain from $118.00 to $121.00 and gave the stock an “overweight” rating in a report on Tuesday, May 27th. Finally, Truist Financial assumed coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 target price for the company. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $121.71.

Iron Mountain Trading Up 1.9%

Shares of NYSE IRM opened at $101.53 on Monday. The business has a fifty day simple moving average of $99.01 and a 200 day simple moving average of $95.98. The firm has a market capitalization of $29.95 billion, a price-to-earnings ratio of 247.62 and a beta of 1.08. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.01. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. Iron Mountain’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 earnings per share. On average, research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th were given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Monday, June 16th. Iron Mountain’s dividend payout ratio (DPR) is 765.85%.

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.