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

IMA Wealth Inc. acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,954 shares of the financial services provider’s stock, valued at approximately $207,000.

Other large investors have also modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of Iron Mountain by 201.7% during the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 242 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of Iron Mountain during the 4th quarter worth about $26,000. Manchester Capital Management LLC increased its position in Iron Mountain by 6,983.3% during the 3rd quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 419 shares in the last quarter. CVA Family Office LLC acquired a new stake in Iron Mountain during the 4th quarter worth approximately $32,000. Finally, Hanson & Doremus Investment Management acquired a new stake in Iron Mountain during the 3rd quarter worth approximately $28,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Mark Kidd sold 4,458 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $80.21, for a total transaction of $357,576.18. Following the completion of the transaction, the executive vice president now directly owns 62,938 shares in the company, valued at approximately $5,048,256.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total transaction of $134,860.00. Following the transaction, the executive vice president now directly owns 48,026 shares in the company, valued at $3,238,393.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark Kidd sold 4,458 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $80.21, for a total value of $357,576.18. Following the transaction, the executive vice president now owns 62,938 shares in the company, valued at $5,048,256.98. The disclosure for this sale can be found here. In the last three months, insiders sold 164,124 shares of company stock worth $12,698,221. 2.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IRM has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price 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. 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 research report on Tuesday, March 5th. Stifel Nicolaus increased their target price 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. Finally, TheStreet downgraded shares of Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and an average target price of $73.80.

Iron Mountain Stock Up 0.3 %

NYSE:IRM traded up $0.26 during trading hours on Friday, hitting $77.52. The stock had a trading volume of 817,647 shares, compared to its average volume of 1,003,245. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78. Iron Mountain Incorporated has a 1-year low of $52.81 and a 1-year high of $82.19. The business has a 50 day simple moving average of $77.46 and a two-hundred day simple moving average of $69.29. The company 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.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate 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 5.44% and a return on equity of 178.02%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. Analysts predict that Iron Mountain Incorporated will post 4.18 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were paid a dividend of $0.65 per share. 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 (DPR) is currently 412.70%.

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.