Wambolt & Associates LLC Trims Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Wambolt & Associates LLC decreased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 27.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,299 shares of the financial services provider’s stock after selling 1,667 shares during the period. Wambolt & Associates LLC’s holdings in Iron Mountain were worth $452,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of IRM. Prestige Wealth Management Group LLC boosted its position in Iron Mountain by 8.2% during the 4th quarter. Prestige Wealth Management Group LLC now owns 4,160 shares of the financial services provider’s stock valued at $440,000 after acquiring an additional 314 shares in the last quarter. TD Asset Management Inc. boosted its position in shares of Iron Mountain by 125.4% during the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock valued at $205,220,000 after purchasing an additional 1,086,308 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in Iron Mountain in the fourth quarter worth $2,646,000. Corebridge Financial Inc. raised its holdings in Iron Mountain by 0.7% in the fourth quarter. Corebridge Financial Inc. now owns 76,267 shares of the financial services provider’s stock worth $8,016,000 after purchasing an additional 524 shares in the last quarter. Finally, Stevens Capital Management LP lifted its position in Iron Mountain by 102.7% during the fourth quarter. Stevens Capital Management LP now owns 3,564 shares of the financial services provider’s stock valued at $375,000 after buying an additional 1,806 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the transaction, the chief accounting officer now owns 288 shares in the company, valued at $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 318,979 shares of company stock worth $30,666,904 in the last ninety days. Insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 3.0 %

Shares of IRM opened at $90.14 on Tuesday. The company has a market cap of $26.48 billion, a price-to-earnings ratio of 147.77, a P/E/G ratio of 5.15 and a beta of 1.04. The business’s fifty day simple moving average is $96.65 and its two-hundred day simple moving average is $109.03. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM) last issued its 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). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the firm posted $0.52 EPS. As a group, research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current 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 issued a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.48%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio is presently 514.75%.

Analyst Upgrades and Downgrades

IRM has been the subject of several research reports. Royal Bank of Canada increased their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Barclays cut their price target on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Wells Fargo & Company dropped their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Iron Mountain presently has an average rating of “Buy” and a consensus target price of $125.67.

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.