Corient Private Wealth LLC Lowers Holdings in Iron Mountain Incorporated (NYSE:IRM)

Corient Private Wealth LLC reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 309,039 shares of the financial services provider’s stock after selling 8,349 shares during the period. Corient Private Wealth LLC owned about 0.11% of Iron Mountain worth $21,627,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its holdings in Iron Mountain by 6,983.3% in 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 during the period. Blue Trust Inc. raised its holdings in Iron Mountain by 201.7% in the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 242 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Iron Mountain in the fourth quarter worth approximately $26,000. CVA Family Office LLC purchased a new stake in shares of Iron Mountain in the 4th quarter valued at approximately $32,000. Finally, Muzinich & Co. Inc. acquired a new stake in shares of Iron Mountain in the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IRM. Barclays boosted their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Wells Fargo & Company raised their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Finally, TheStreet cut shares of Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.80.

Iron Mountain Stock Down 2.0 %

Shares of NYSE:IRM opened at $79.31 on Friday. 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 Incorporated has a 1-year low of $52.81 and a 1-year high of $83.00. The firm has a fifty day moving average price of $78.49 and a 200 day moving average price of $71.87. The stock has a market cap of $23.25 billion, a P/E ratio of 120.17, a P/E/G ratio of 4.84 and a beta of 0.96.

Iron Mountain (NYSE:IRM) last announced 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 net margin of 5.45% and a return on equity of 282.93%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the firm posted $0.98 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Sell-side analysts predict that Iron Mountain Incorporated will post 4.18 EPS for the current year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s payout ratio is 393.95%.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 115,979 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $78.90, for a total value of $9,150,743.10. Following the completion of the transaction, the chief executive officer now owns 432,682 shares in the company, valued at $34,138,609.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Iron Mountain news, CEO William L. Meaney sold 115,979 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $78.90, for a total transaction of $9,150,743.10. Following the transaction, the chief executive officer now directly owns 432,682 shares in the company, valued at $34,138,609.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $78.70, for a total transaction of $157,400.00. Following the sale, the executive vice president now owns 67,286 shares of the company’s stock, valued at $5,295,408.20. The disclosure for this sale can be found here. Insiders sold 148,355 shares of company stock valued at $11,663,526 in the last three months. 2.10% of the stock is currently owned by company insiders.

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.