OneAscent Financial Services LLC Takes $501,000 Position in Iron Mountain Incorporated (NYSE:IRM)

OneAscent Financial Services LLC purchased a new stake in Iron Mountain Incorporated (NYSE:IRM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,751 shares of the financial services provider’s stock, valued at approximately $501,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of Iron Mountain by 1.6% in the third quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock valued at $978,479,000 after purchasing an additional 128,622 shares in the last quarter. Wealthfront Advisers LLC lifted its stake in Iron Mountain by 9,843.3% in the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock worth $721,562,000 after acquiring an additional 6,795,792 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Iron Mountain by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider’s stock worth $365,656,000 after acquiring an additional 92,475 shares in the last quarter. Norges Bank purchased a new position in Iron Mountain during the 4th quarter valued at about $348,249,000. Finally, TD Asset Management Inc. grew its stake in Iron Mountain by 125.4% during the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock valued at $205,220,000 after acquiring an additional 1,086,308 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the transaction, the chief executive officer now directly owns 237,402 shares in the company, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the sale, the executive vice president now directly owns 13,054 shares in the company, valued at $1,211,933.36. This trade represents a 11.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 318,973 shares of company stock worth $29,370,872. 2.10% of the stock is owned by insiders.

Iron Mountain Trading Down 5.7 %

IRM stock opened at $83.07 on Friday. The firm has a market cap of $24.40 billion, a PE ratio of 136.17, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 1 year low of $73.53 and a 1 year high of $130.24. The company has a fifty day simple moving average of $93.03 and a 200 day simple moving average of $107.57.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period in the prior year, the firm earned $0.52 EPS. As a group, analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a $0.785 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.78%. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Monday. Barclays dropped their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $125.67.

Iron Mountain 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.