Greenleaf Trust Grows Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Greenleaf Trust grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,194 shares of the financial services provider’s stock after purchasing an additional 370 shares during the quarter. Greenleaf Trust’s holdings in Iron Mountain were worth $503,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in IRM. International Assets Investment Management LLC acquired a new stake in Iron Mountain in the 4th quarter worth about $16,590,000. Daiwa Securities Group Inc. lifted its holdings in shares of Iron Mountain by 60.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after acquiring an additional 1,546,592 shares during the period. Allworth Financial LP boosted its position in shares of Iron Mountain by 6,889.9% in the fourth quarter. Allworth Financial LP now owns 63,189 shares of the financial services provider’s stock worth $4,422,000 after acquiring an additional 62,285 shares during the last quarter. Waverly Advisors LLC purchased a new stake in Iron Mountain in the third quarter valued at approximately $1,993,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in Iron Mountain during the fourth quarter worth approximately $3,270,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IRM shares. Wells Fargo & Company lifted their price target on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Stifel Nicolaus upped their price target on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Finally, Barclays increased their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the stock 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.80.

Insider Buying and Selling at Iron Mountain

In related 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 transaction, the executive vice president now owns 48,026 shares in the company, valued at $3,238,393.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total transaction of $134,860.00. Following the sale, the executive vice president now directly owns 48,026 shares in the company, valued at approximately $3,238,393.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edward Baker-Greene sold 4,941 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $72.94, for a total value of $360,396.54. Following the transaction, the executive vice president now owns 3,365 shares of the company’s stock, valued at $245,443.10. The disclosure for this sale can be found here. Insiders sold a total of 164,124 shares of company stock valued at $12,698,221 in the last ninety days. Insiders own 2.20% of the company’s stock.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $75.85 on Tuesday. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78. Iron Mountain Incorporated has a 1-year low of $52.81 and a 1-year high of $82.19. The company has a market capitalization of $22.17 billion, a price-to-earnings ratio of 120.40, a PEG ratio of 4.51 and a beta of 0.94. The business has a 50-day moving average of $76.70 and a 200-day moving average of $68.91.

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

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were issued a $0.65 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.60 dividend on an annualized basis and a yield of 3.43%. Iron Mountain’s dividend payout ratio is currently 412.70%.

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.