Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by GeoWealth Management LLC

GeoWealth Management LLC grew its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 25.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,229 shares of the financial services provider's stock after acquiring an additional 5,490 shares during the quarter. GeoWealth Management LLC's holdings in Iron Mountain were worth $2,862,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. IMG Wealth Management Inc. purchased a new position in Iron Mountain in the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Iron Mountain in the 4th quarter valued at about $26,000. Key Financial Inc grew its position in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after buying an additional 251 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after acquiring an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new stake in Iron Mountain during the fourth quarter valued at approximately $53,000. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Up 2.0 %

Shares of NYSE:IRM traded up $1.69 during trading on Thursday, hitting $85.92. The stock had a trading volume of 292,286 shares, compared to its average volume of 2,106,068. The stock has a 50-day simple moving average of $86.40 and a two-hundred day simple moving average of $103.70. The stock has a market capitalization of $25.24 billion, a price-to-earnings ratio of 140.85, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were given a dividend of $0.785 per share. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.65%. The ex-dividend date was Monday, March 17th. Iron Mountain's dividend payout ratio (DPR) is currently 514.75%.

Insider Activity

In other news, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Daniel Borges sold 6,433 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 $597,239.72. Following the sale, the chief accounting officer now directly owns 288 shares in the company, valued at $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 318,973 shares of company stock valued at $29,370,872 in the last quarter. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on IRM shares. Barclays cut their price target on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Wells Fargo & Company decreased 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. Truist Financial assumed coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Iron Mountain has a consensus rating of "Buy" and a consensus price target of $121.29.

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.