Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 44.8% in the fourth quarter, Holdings Channel reports. The firm owned 2,427 shares of the financial services provider’s stock after buying an additional 751 shares during the period. EverSource Wealth Advisors LLC’s holdings in Iron Mountain were worth $255,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MQS Management LLC acquired a new stake in Iron Mountain in the third quarter worth about $205,000. Oppenheimer & Co. Inc. increased its holdings in shares of Iron Mountain by 36.1% in the third quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider’s stock valued at $2,281,000 after purchasing an additional 5,086 shares during the period. Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of Iron Mountain in the third quarter worth about $900,000. Balboa Wealth Partners acquired a new stake in shares of Iron Mountain during the third quarter worth about $250,000. Finally, OneDigital Investment Advisors LLC boosted its position in Iron Mountain by 1.5% in the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after buying an additional 89 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 172,552 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the completion of the sale, the chief executive officer now owns 237,402 shares of the company’s stock, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 327,242 shares of company stock worth $31,530,305. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on IRM shares. Wells Fargo & Company decreased their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a research note on Friday. Barclays dropped their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Royal Bank of Canada upped their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.67.

Iron Mountain Trading Up 1.9 %

NYSE IRM opened at $86.68 on Friday. The stock has a market capitalization of $25.46 billion, a price-to-earnings ratio of 142.09, a PEG ratio of 5.15 and a beta of 1.04. The stock has a 50-day moving average of $98.28 and a 200 day moving average of $110.05. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter last year, the business earned $0.52 EPS. Equities analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is 514.75%.

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.