Apollon Wealth Management LLC Buys 1,862 Shares of Iron Mountain Incorporated (NYSE:IRM)

Apollon Wealth Management LLC lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 8.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,112 shares of the financial services provider’s stock after buying an additional 1,862 shares during the quarter. Apollon Wealth Management LLC’s holdings in Iron Mountain were worth $1,687,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Blue Trust Inc. boosted its position in shares of Iron Mountain by 201.7% during 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. Exchange Traded Concepts LLC bought a new position in Iron Mountain in the fourth quarter worth approximately $26,000. Manchester Capital Management LLC boosted 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 worth $25,000 after acquiring an additional 419 shares during the period. CVA Family Office LLC purchased a new position in Iron Mountain during the 4th quarter valued at approximately $32,000. Finally, Muzinich & Co. Inc. purchased a new position in Iron Mountain in the third quarter worth about $35,000. 80.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on IRM shares. Stifel Nicolaus increased their price objective on shares of 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 report on Thursday, February 22nd. 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 report on Tuesday, March 5th. Finally, Wells Fargo & Company boosted their price objective on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.80.

Insider Activity

In related news, CEO William L. Meaney sold 115,979 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 432,682 shares of the company’s stock, valued at approximately $34,138,609.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $22,670,442. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 115,979 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $78.90, for a total value of $9,150,743.10. Following the completion of the sale, the chief executive officer now directly owns 432,682 shares of the company’s stock, valued at $34,138,609.80. The disclosure for this sale can be found here. Insiders have sold 149,749 shares of company stock worth $11,748,676 over the last 90 days. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Down 0.7 %

Shares of IRM stock traded down $0.56 during trading hours on Wednesday, hitting $77.04. 140,635 shares of the company were exchanged, compared to its average volume of 1,412,740. Iron Mountain Incorporated has a 1 year low of $52.81 and a 1 year high of $82.19. The firm has a fifty day moving average of $78.23 and a 200 day moving average of $70.24. The firm has a market cap of $22.58 billion, a PE ratio of 117.62, a PEG ratio of 4.51 and a beta of 0.96. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last issued its 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). The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a net margin of 5.45% and a return on equity of 282.93%. Iron Mountain’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. Analysts expect that Iron Mountain Incorporated will post 4.18 earnings per share for the current year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.37%. The ex-dividend date is Monday, June 17th. Iron Mountain’s dividend payout ratio (DPR) is 393.95%.

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.