Cwm LLC Increases Holdings in Iron Mountain Incorporated (NYSE:IRM)

Cwm LLC lifted its position in Iron Mountain Incorporated (NYSE:IRM) by 15.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,758 shares of the financial services provider’s stock after purchasing an additional 896 shares during the quarter. Cwm LLC’s holdings in Iron Mountain were worth $473,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of IRM. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Iron Mountain by 4.7% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 76,851 shares of the financial services provider’s stock valued at $5,378,000 after acquiring an additional 3,456 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in Iron Mountain by 104.3% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 85,045 shares of the financial services provider’s stock valued at $5,951,000 after acquiring an additional 43,408 shares in the last quarter. Signaturefd LLC raised its position in Iron Mountain by 36.6% during the fourth quarter. Signaturefd LLC now owns 4,907 shares of the financial services provider’s stock valued at $343,000 after acquiring an additional 1,316 shares in the last quarter. abrdn plc raised its position in Iron Mountain by 34.5% during the fourth quarter. abrdn plc now owns 227,884 shares of the financial services provider’s stock valued at $15,947,000 after acquiring an additional 58,480 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its position in Iron Mountain by 4.9% during the fourth quarter. J.W. Cole Advisors Inc. now owns 6,744 shares of the financial services provider’s stock valued at $472,000 after acquiring an additional 315 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 996 shares of the business’s 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 transaction, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at $247,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $20,175,156. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Daniel Borges sold 996 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,095 shares in the company, valued at approximately $247,600. The disclosure for this sale can be found here. Insiders have sold 162,124 shares of company stock valued at $12,563,361 over the last ninety days. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

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

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $78.07 on Thursday. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78. The business’s 50 day moving average price is $77.84 and its 200-day moving average price is $69.66. The firm has a market capitalization of $22.88 billion, a PE ratio of 123.54, a P/E/G ratio of 4.67 and a beta of 0.94. Iron Mountain Incorporated has a 1 year low of $52.81 and a 1 year 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 analysts’ consensus estimates of $1.00 by ($0.48). The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 earnings per share. As a group, equities research analysts expect that Iron Mountain Incorporated will post 4.18 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s dividend payout ratio is presently 412.70%.

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.