HB Wealth Management LLC Sells 342 Shares of Iron Mountain Incorporated (NYSE:IRM)

HB Wealth Management LLC lowered its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,074 shares of the financial services provider’s stock after selling 342 shares during the period. HB Wealth Management LLC’s holdings in Iron Mountain were worth $425,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in IRM. Cohen & Steers Inc. boosted its stake in shares of Iron Mountain by 163.9% during the second quarter. Cohen & Steers Inc. now owns 7,725,767 shares of the financial services provider’s stock valued at $438,926,000 after purchasing an additional 4,798,010 shares during the period. Moneta Group Investment Advisors LLC bought a new stake in Iron Mountain in the 4th quarter worth $224,698,000. Wellington Management Group LLP increased its position in shares of Iron Mountain by 315.2% in the third quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock valued at $179,079,000 after acquiring an additional 2,286,711 shares during the period. Norges Bank bought a new position in shares of Iron Mountain during the fourth quarter valued at about $97,752,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Iron Mountain by 214.7% in the third quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock worth $103,744,000 after purchasing an additional 1,178,754 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on IRM. Barclays upped their price target on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. TheStreet cut shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Wells Fargo & Company upped their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Finally, Stifel Nicolaus lifted their target price on shares of Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.80.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 996 shares of Iron Mountain stock in a transaction on Monday, March 4th. The stock was sold at an average price of $80.00, for a total transaction of $79,680.00. Following the completion of the transaction, the chief accounting officer now owns 3,095 shares in the company, valued at $247,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Daniel Borges sold 996 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $80.00, for a total transaction of $79,680.00. Following the sale, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at approximately $247,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 115,979 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $78.90, for a total transaction of $9,150,743.10. Following the sale, the chief executive officer now owns 432,682 shares in the company, valued at approximately $34,138,609.80. The disclosure for this sale can be found here. Insiders have sold a total of 171,983 shares of company stock valued at $13,030,171 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Iron Mountain Price Performance

IRM opened at $80.14 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78. The company has a market cap of $23.42 billion, a price-to-earnings ratio of 127.21, a price-to-earnings-growth ratio of 4.70 and a beta of 0.94. The stock has a fifty day simple moving average of $73.34 and a two-hundred day simple moving average of $66.81. Iron Mountain Incorporated has a 12-month low of $49.61 and a 12-month high of $82.19.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.48). Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. Research analysts predict that Iron Mountain Incorporated will post 4.16 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.65 per share. The ex-dividend date is Thursday, March 14th. This represents a $2.60 annualized dividend and a dividend yield of 3.24%. Iron Mountain’s payout ratio is 412.70%.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management, innovative storage, data center infrastructure, and asset lifecycle management. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work.