SVB Wealth LLC Sells 407 Shares of Iron Mountain Incorporated (NYSE:IRM)

SVB Wealth LLC cut its position in Iron Mountain Incorporated (NYSE:IRM) by 1.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 22,873 shares of the financial services provider’s stock after selling 407 shares during the period. SVB Wealth LLC’s holdings in Iron Mountain were worth $1,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in IRM. Harbor Investment Advisory LLC raised its stake in shares of Iron Mountain by 92.2% in the third quarter. Harbor Investment Advisory LLC now owns 417 shares of the financial services provider’s stock valued at $25,000 after buying an additional 200 shares during the period. Manchester Capital Management LLC raised its stake in shares of Iron Mountain by 6,983.3% in the third quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock valued at $25,000 after buying an additional 419 shares during the period. Blue Trust Inc. grew its position in shares of Iron Mountain by 201.7% in the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 242 shares in the last quarter. First Capital Advisors Group LLC. purchased a new position in shares of Iron Mountain in the second quarter valued at $25,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Iron Mountain in the fourth quarter valued at $26,000. 80.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on IRM. Wells Fargo & Company lifted their price target on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Stifel Nicolaus lifted their price target on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. TheStreet cut Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Finally, Barclays lifted 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.80.

Iron Mountain Price Performance

Iron Mountain stock opened at $74.41 on Friday. Iron Mountain Incorporated has a 52 week low of $52.05 and a 52 week high of $82.19. The business has a 50-day simple moving average of $76.43 and a 200 day simple moving average of $68.51. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. The stock has a market cap of $21.75 billion, a price-to-earnings ratio of 118.11, a PEG ratio of 4.52 and a beta of 0.94.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 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 for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Iron Mountain’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, research analysts forecast that Iron Mountain Incorporated will post 4.16 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s payout ratio is currently 412.70%.

Insider Transactions at Iron Mountain

In other news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $67.43, for a total value of $134,860.00. Following the completion of the sale, the executive vice president now owns 48,026 shares of the company’s stock, valued at approximately $3,238,393.18. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $68.24, for a total transaction of $1,083,310.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $20,175,156. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $67.43, for a total value of $134,860.00. Following the transaction, the executive vice president now directly owns 48,026 shares of the company’s stock, valued at approximately $3,238,393.18. The disclosure for this sale can be found here. In the last three months, insiders sold 164,124 shares of company stock worth $12,698,221. 2.20% of the stock is currently owned by corporate insiders.

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.