WealthTrust Axiom LLC Lowers Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

WealthTrust Axiom LLC cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 22.5% during the fourth quarter, Holdings Channel reports. The fund owned 82,860 shares of the financial services provider’s stock after selling 24,096 shares during the period. Iron Mountain makes up about 1.9% of WealthTrust Axiom LLC’s portfolio, making the stock its 10th biggest position. WealthTrust Axiom LLC’s holdings in Iron Mountain were worth $5,799,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of IRM. Wellington Management Group LLP grew its position in Iron Mountain by 315.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock worth $179,079,000 after acquiring an additional 2,286,711 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Iron Mountain by 60.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after acquiring an additional 1,546,592 shares during the last quarter. Ameriprise Financial Inc. grew its position in Iron Mountain by 214.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock worth $103,744,000 after acquiring an additional 1,178,754 shares during the last quarter. Invesco Ltd. boosted its position in Iron Mountain by 49.7% in the 3rd quarter. Invesco Ltd. now owns 3,243,435 shares of the financial services provider’s stock valued at $192,822,000 after buying an additional 1,077,339 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in Iron Mountain by 59.1% in the 4th quarter. Russell Investments Group Ltd. now owns 2,081,786 shares of the financial services provider’s stock valued at $145,879,000 after buying an additional 772,988 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IRM has been the topic of a number of recent research reports. Stifel Nicolaus increased their price objective on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Wells Fargo & Company increased their price objective on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, Barclays increased their price objective on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $73.80.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, 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 sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $20,175,156. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $68.24, for a total value of $1,083,310.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $20,175,156. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Daniel Borges sold 996 shares of Iron Mountain stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $80.00, for a total transaction of $79,680.00. Following the completion of the sale, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at $247,600. The disclosure for this sale can be found here. Insiders have sold 164,124 shares of company stock valued at $12,698,221 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Trading Down 0.4 %

Shares of IRM stock traded down $0.30 during trading hours on Tuesday, reaching $77.67. The company had a trading volume of 672,657 shares, compared to its average volume of 1,385,353. The firm has a market cap of $22.77 billion, a price-to-earnings ratio of 123.76, a P/E/G ratio of 4.64 and a beta of 0.94. Iron Mountain Incorporated has a 1-year low of $52.81 and a 1-year high of $82.19. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78. The company has a 50 day moving average of $77.66 and a 200 day moving average of $69.54.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.48). The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 EPS. On average, equities research analysts anticipate that Iron Mountain Incorporated will post 4.18 EPS for the current year.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders 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 of this dividend was Thursday, March 14th. Iron Mountain’s dividend payout ratio is 412.70%.

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.