Iron Mountain Incorporated $IRM Shares Sold by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC decreased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 25.3% in the second quarter, Holdings Channel reports. The fund owned 330 shares of the financial services provider’s stock after selling 112 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Iron Mountain were worth $34,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IRM. Cranbrook Wealth Management LLC acquired a new stake in shares of Iron Mountain during the 1st quarter worth approximately $26,000. Financial Network Wealth Advisors LLC acquired a new stake in shares of Iron Mountain during the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC acquired a new stake in shares of Iron Mountain during the 1st quarter worth approximately $30,000. Ramirez Asset Management Inc. acquired a new stake in shares of Iron Mountain during the 1st quarter worth approximately $34,000. Finally, Wayfinding Financial LLC acquired a new stake in shares of Iron Mountain during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Iron Mountain in a report on Monday, September 22nd. They set a “buy” rating and a $120.00 price target for the company. Barclays raised their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a report on Saturday, September 27th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Iron Mountain presently has an average rating of “Buy” and an average target price of $116.83.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $94.55, for a total value of $6,535,768.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $102.34, for a total transaction of $7,074,252.50. The disclosure for this sale can be found here. Insiders sold 213,375 shares of company stock valued at $20,347,156 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Iron Mountain Stock Up 1.7%

Shares of IRM stock opened at $105.08 on Friday. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The stock has a market capitalization of $31.03 billion, a PE ratio of 750.60 and a beta of 1.06. The firm has a 50 day moving average of $95.72 and a two-hundred day moving average of $94.81.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the company posted $1.08 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. Analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were given a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is currently 2,242.86%.

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.