Integrated Wealth Concepts LLC Trims Position in Iron Mountain Incorporated $IRM

Integrated Wealth Concepts LLC cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 20.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,745 shares of the financial services provider’s stock after selling 2,036 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Iron Mountain were worth $666,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cranbrook Wealth Management LLC purchased a new position in Iron Mountain during the first quarter valued at approximately $26,000. Financial Network Wealth Advisors LLC purchased a new position in shares of Iron Mountain in the 1st quarter valued at $26,000. Golden State Wealth Management LLC purchased a new position in shares of Iron Mountain in the 1st quarter valued at $30,000. Ramirez Asset Management Inc. purchased a new position in shares of Iron Mountain in the 1st quarter valued at $34,000. Finally, Wayfinding Financial LLC purchased a new position in shares of Iron Mountain in the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on IRM. JPMorgan Chase & Co. cut their target price on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Barclays lifted their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain currently has a consensus rating of “Buy” and an average price target of $120.17.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $89.56, for a total transaction of $6,190,835.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total value of $546,300.00. Following the transaction, the executive vice president owned 79,081 shares in the company, valued at $7,200,325.05. This trade represents a 7.05% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 236,709 shares of company stock worth $22,555,809. 1.90% of the stock is currently owned by company insiders.

Iron Mountain Stock Performance

Shares of IRM stock opened at $96.82 on Friday. The firm has a market capitalization of $28.60 billion, a price-to-earnings ratio of 691.64 and a beta of 1.08. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The stock’s 50-day simple moving average is $94.93 and its 200-day simple moving average is $93.37.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.05. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.08 EPS. As a group, equities analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be given a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.2%. The ex-dividend date is Monday, September 15th. Iron Mountain’s dividend payout ratio is currently 2,242.86%.

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.