IMA Wealth Inc. Invests $207,000 in Iron Mountain Incorporated (NYSE:IRM)

IMA Wealth Inc. purchased a new position in Iron Mountain Incorporated (NYSE:IRM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,954 shares of the financial services provider’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of IRM. Wellington Management Group LLP lifted its stake in shares of Iron Mountain by 315.2% in the third quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock worth $179,079,000 after buying an additional 2,286,711 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Iron Mountain by 60.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after purchasing an additional 1,546,592 shares during the last quarter. Ameriprise Financial Inc. increased its position in Iron Mountain by 214.7% during the third quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock worth $103,744,000 after purchasing an additional 1,178,754 shares during the last quarter. Invesco Ltd. increased its position in Iron Mountain by 49.7% during the third quarter. Invesco Ltd. now owns 3,243,435 shares of the financial services provider’s stock worth $192,822,000 after purchasing an additional 1,077,339 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Iron Mountain by 59.1% during the fourth quarter. Russell Investments Group Ltd. now owns 2,081,786 shares of the financial services provider’s stock worth $145,879,000 after purchasing an additional 772,988 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $67.43, for a total value of $134,860.00. Following the completion of the transaction, the executive vice president now owns 48,026 shares of the company’s stock, valued at $3,238,393.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $67.43, for a total value of $134,860.00. Following the completion of the transaction, the executive vice president now owns 48,026 shares of the company’s stock, valued at $3,238,393.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $1,083,310.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $20,175,156. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,124 shares of company stock valued at $12,698,221. 2.20% of the stock is currently owned by company insiders.

Iron Mountain Trading Up 0.3 %

Shares of IRM traded up $0.26 during trading on Friday, reaching $77.52. 817,647 shares of the company traded hands, compared to its average volume of 1,003,245. Iron Mountain Incorporated has a twelve month low of $52.81 and a twelve month high of $82.19. The stock has a market cap of $22.72 billion, a PE ratio of 123.05, a price-to-earnings-growth ratio of 4.62 and a beta of 0.94. The stock has a 50-day simple moving average of $77.46 and a 200-day simple moving average of $69.29. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78.

Iron Mountain (NYSE:IRM) last announced 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 net margin of 5.44% and a return on equity of 178.02%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. Iron Mountain’s revenue was up 11.0% on a year-over-year basis. On average, analysts anticipate that Iron Mountain Incorporated will post 4.18 earnings per share for the current year.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s payout ratio is 412.70%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. TheStreet cut shares of Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Stifel Nicolaus raised their price objective on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Wells Fargo & Company raised their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Finally, Barclays raised their price objective 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and an average price target of $73.80.

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.