Iron Mountain Incorporated (NYSE:IRM) Stock Position Boosted by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC increased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 169.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 954 shares of the financial services provider’s stock after buying an additional 600 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Iron Mountain were worth $74,000 at the end of the most recent reporting period.

Several 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% in the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 242 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in Iron Mountain during the 4th quarter worth about $36,000. Heritage Wealth Advisors purchased a new stake in Iron Mountain during the fourth quarter valued at about $38,000. Headlands Technologies LLC acquired a new position in shares of Iron Mountain in the first quarter worth about $38,000. Finally, Harbor Investment Advisory LLC increased its position in shares of Iron Mountain by 48.2% in the fourth quarter. Harbor Investment Advisory LLC now owns 618 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 201 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $81.03, for a total transaction of $1,286,351.25. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $23,956,519.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Walter C. Rakowich sold 954 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $81.33, for a total transaction of $77,588.82. Following the completion of the transaction, the director now directly owns 35,166 shares of the company’s stock, valued at approximately $2,860,050.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $81.03, for a total transaction of $1,286,351.25. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $23,956,519.50. The disclosure for this sale can be found here. Insiders have sold 96,372 shares of company stock worth $8,516,435 in the last ninety days. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on IRM shares. The Goldman Sachs Group upped their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company upped their price target on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. upped their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Stifel Nicolaus increased their target price on shares of Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.29.

Iron Mountain Stock Up 2.9 %

Shares of IRM traded up $3.03 during mid-day trading on Tuesday, hitting $107.36. 1,028,363 shares of the company’s stock were exchanged, compared to its average volume of 1,665,699. Iron Mountain Incorporated has a twelve month low of $56.51 and a twelve month high of $112.79. The firm has a fifty day moving average of $91.93 and a two-hundred day moving average of $81.46. The company has a quick ratio of 0.86, a current ratio of 0.79 and a debt-to-equity ratio of 674.63. The stock has a market cap of $31.47 billion, a price-to-earnings ratio of 158.20, a P/E/G ratio of 6.49 and a beta of 0.98.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 earnings per share. On average, sell-side analysts forecast that Iron Mountain Incorporated will post 4.22 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.66%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is currently 433.33%.

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.