WASHINGTON TRUST Co Boosts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

WASHINGTON TRUST Co grew its stake in Iron Mountain Incorporated (NYSE:IRM) by 89.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,761 shares of the financial services provider’s stock after buying an additional 3,195 shares during the quarter. WASHINGTON TRUST Co’s holdings in Iron Mountain were worth $473,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Iron Mountain by 17.1% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,171 shares of the financial services provider’s stock valued at $82,000 after buying an additional 171 shares during the period. J.W. Cole Advisors Inc. raised its holdings in Iron Mountain by 2.8% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,429 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 177 shares during the period. Koshinski Asset Management Inc. raised its holdings in Iron Mountain by 4.6% in the 3rd quarter. Koshinski Asset Management Inc. now owns 4,293 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 188 shares during the period. Aspire Private Capital LLC grew its position in shares of Iron Mountain by 2.1% in the third quarter. Aspire Private Capital LLC now owns 9,290 shares of the financial services provider’s stock valued at $552,000 after purchasing an additional 188 shares in the last quarter. Finally, Cresset Asset Management LLC grew its position in shares of Iron Mountain by 1.2% in the first quarter. Cresset Asset Management LLC now owns 16,001 shares of the financial services provider’s stock valued at $855,000 after purchasing an additional 195 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling

In related news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $78.70, for a total transaction of $157,400.00. Following the transaction, the executive vice president now owns 67,286 shares of the company’s stock, valued at $5,295,408.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $78.70, for a total value of $157,400.00. Following the sale, the executive vice president now owns 67,286 shares of the company’s stock, valued at approximately $5,295,408.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $67.47, for a total value of $1,071,086.25. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $19,947,505.50. The disclosure for this sale can be found here. Insiders have sold a total of 171,983 shares of company stock valued at $13,030,171 over the last quarter. 2.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Iron Mountain Stock Up 0.3 %

Iron Mountain stock traded up $0.28 during midday trading on Thursday, reaching $80.42. The company’s stock had a trading volume of 403,686 shares, compared to its average volume of 1,502,883. The business has a 50-day simple moving average of $73.34 and a 200-day simple moving average of $66.81. The company has a market cap of $23.51 billion, a P/E ratio of 127.65, a P/E/G ratio of 4.69 and a beta of 0.94. Iron Mountain Incorporated has a fifty-two week low of $50.49 and a fifty-two week high of $82.19. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78.

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). Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the business posted $0.98 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, research analysts expect that Iron Mountain Incorporated will post 4.16 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Friday, March 15th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Thursday, March 14th. Iron Mountain’s dividend payout ratio is currently 412.70%.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management, innovative storage, data center infrastructure, and asset lifecycle management. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work.