Simplicity Wealth LLC Invests $1.33 Million in Iron Mountain Incorporated (NYSE:IRM)

Simplicity Wealth LLC bought a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,521 shares of the financial services provider's stock, valued at approximately $1,325,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake 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 valued at $25,000 after buying an additional 242 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in Iron Mountain in the 4th quarter valued at $26,000. Manchester Capital Management LLC lifted its holdings in Iron Mountain by 6,983.3% during the third quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 419 shares in the last quarter. CVA Family Office LLC acquired a new stake in shares of Iron Mountain in the fourth quarter valued at about $32,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Iron Mountain during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Up 0.9 %

Shares of Iron Mountain stock traded up $0.75 on Tuesday, reaching $82.85. 977,500 shares of the company were exchanged, compared to its average volume of 1,402,589. The stock's 50 day moving average price is $78.44 and its 200-day moving average price is $71.76. The company has a market cap of $24.29 billion, a P/E ratio of 125.53, a price-to-earnings-growth ratio of 4.89 and a beta of 0.96. Iron Mountain Incorporated has a 1-year low of $52.81 and a 1-year high of $83.00. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its earnings results 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). Iron Mountain had a net margin of 5.45% and a return on equity of 282.93%. The business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.45 billion. During the same period last year, the company earned $0.98 EPS. The business's quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities analysts forecast that Iron Mountain Incorporated will post 4.18 EPS for the current year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain's payout ratio is 393.95%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on IRM shares. Barclays increased their price objective on shares of Iron Mountain from $79.00 to $91.00 and gave the company an "overweight" rating in a report on Tuesday, March 5th. TheStreet downgraded Iron Mountain from a "b" rating to a "c" rating in a research note on Thursday, February 22nd. Stifel Nicolaus lifted their price target on Iron Mountain from $65.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, January 23rd. Finally, Wells Fargo & Company upped their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $73.80.

Insider Transactions at Iron Mountain

In other Iron Mountain news, Director Wendy J. Murdock sold 3,547 shares of the business's stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $77.60, for a total value of $275,247.20. Following the completion of the sale, the director now owns 20,944 shares in the company, valued at $1,625,254.40. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Wendy J. Murdock sold 3,547 shares of Iron Mountain stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $77.60, for a total value of $275,247.20. Following the transaction, the director now directly owns 20,944 shares in the company, valued at approximately $1,625,254.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $77.80, for a total transaction of $155,600.00. Following the completion of the sale, the executive vice president now directly owns 63,286 shares in the company, valued at approximately $4,923,650.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,296 shares of company stock worth $12,023,923. Corporate insiders own 2.10% of the company's stock.

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.

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