Blue Rock Wealth Management LLC Takes $378,000 Position in Iron Mountain Incorporated (NYSE:IRM)

Blue Rock Wealth Management LLC acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,600 shares of the financial services provider's stock, valued at approximately $378,000.

Several other hedge funds also recently made changes to their positions in IRM. Merit Financial Group LLC lifted its position in Iron Mountain by 91.5% in the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider's stock valued at $1,570,000 after purchasing an additional 7,137 shares during the period. Tidal Investments LLC boosted its holdings in Iron Mountain by 254.1% during the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider's stock worth $2,440,000 after buying an additional 14,737 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Iron Mountain by 151.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider's stock worth $961,000 after buying an additional 5,511 shares during the period. Proficio Capital Partners LLC purchased a new position in Iron Mountain in the fourth quarter valued at about $102,000. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Iron Mountain during the 3rd quarter worth approximately $24,122,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IRM shares. Wells Fargo & Company cut their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Truist Financial initiated coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective for the company. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. Finally, Barclays decreased their price objective 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. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Iron Mountain presently has a consensus rating of "Buy" and a consensus price target of $121.29.

Iron Mountain Stock Performance

NYSE IRM traded down $0.25 during trading hours on Tuesday, hitting $96.93. 594,074 shares of the company's stock were exchanged, compared to its average volume of 2,093,161. The business's 50 day moving average is $86.01 and its 200-day moving average is $101.74. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The firm has a market capitalization of $28.59 billion, a P/E ratio of 158.88, a price-to-earnings-growth ratio of 5.15 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.01. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the firm posted $1.10 EPS. The company's revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's payout ratio is currently 765.85%.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total value of $5,952,353.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company's stock, valued at $1,211,933.36. The trade was a 11.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 249,848 shares of company stock valued at $22,470,124. Company insiders own 2.10% of the company's stock.

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.