Moran Wealth Management LLC Has $21.97 Million Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Moran Wealth Management LLC lessened its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 209,019 shares of the financial services provider’s stock after selling 6,128 shares during the quarter. Moran Wealth Management LLC owned approximately 0.07% of Iron Mountain worth $21,970,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Iron Mountain by 3.4% during the third quarter. Principal Financial Group Inc. now owns 352,451 shares of the financial services provider’s stock worth $41,882,000 after buying an additional 11,685 shares during the last quarter. CWA Asset Management Group LLC bought a new position in shares of Iron Mountain in the 3rd quarter worth about $240,000. Verdence Capital Advisors LLC lifted its stake in shares of Iron Mountain by 63.3% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,030 shares of the financial services provider’s stock valued at $835,000 after purchasing an additional 2,726 shares during the period. Assetmark Inc. boosted its position in shares of Iron Mountain by 12.8% during the 3rd quarter. Assetmark Inc. now owns 48,535 shares of the financial services provider’s stock valued at $5,767,000 after purchasing an additional 5,502 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its stake in Iron Mountain by 13.5% during the third quarter. Axxcess Wealth Management LLC now owns 13,205 shares of the financial services provider’s stock worth $1,569,000 after purchasing an additional 1,566 shares during the period. Institutional investors own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the sale, the chief executive officer now directly owns 237,402 shares in the company, valued at $21,681,924.66. The trade was a 42.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the transaction, the chief accounting officer now owns 288 shares of the company’s stock, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 343,114 shares of company stock valued at $33,323,682 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IRM. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Barclays cut their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. 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 research note on Tuesday, February 4th. Royal Bank of Canada increased their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Finally, StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Buy” and an average price target of $127.67.

Iron Mountain Price Performance

NYSE:IRM opened at $84.21 on Monday. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24. The company has a market cap of $24.74 billion, a PE ratio of 138.05, a PEG ratio of 5.15 and a beta of 1.04. The firm has a 50-day moving average of $100.25 and a 200-day moving average of $111.02.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations 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 last year, the company earned $0.52 earnings per share. On average, equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.73%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is currently 514.75%.

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.