1900 Wealth Management LLC Trims Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

1900 Wealth Management LLC reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 30.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,065 shares of the financial services provider’s stock after selling 1,320 shares during the period. 1900 Wealth Management LLC’s holdings in Iron Mountain were worth $214,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IRM. CWM LLC raised its holdings in Iron Mountain by 22.4% in the 3rd quarter. CWM LLC now owns 5,862 shares of the financial services provider’s stock valued at $348,000 after buying an additional 1,071 shares during the period. HB Wealth Management LLC increased its stake in Iron Mountain by 27.3% during the third quarter. HB Wealth Management LLC now owns 6,416 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 1,374 shares during the period. Flagship Harbor Advisors LLC increased its stake in Iron Mountain by 4.4% during the third quarter. Flagship Harbor Advisors LLC now owns 6,675 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 280 shares during the period. Impact Partnership Wealth LLC purchased a new stake in Iron Mountain during the third quarter worth about $129,000. Finally, Koshinski Asset Management Inc. increased its stake in Iron Mountain by 4.6% during the third 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. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO William L. Meaney sold 115,979 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 432,682 shares of the company’s stock, valued at $34,138,609.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO William L. Meaney sold 115,979 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 432,682 shares of the company’s stock, valued at $34,138,609.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Daniel Borges sold 996 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the sale, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at approximately $247,600. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,124 shares of company stock valued at $12,698,221. 2.20% of the stock is currently owned by company insiders.

Iron Mountain Stock Performance

Shares of IRM opened at $76.60 on Wednesday. The stock has a 50 day moving average price of $76.89 and a 200 day moving average price of $69.04. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. The company has a market capitalization of $22.45 billion, a price-to-earnings ratio of 121.59, a price-to-earnings-growth ratio of 4.56 and a beta of 0.94. Iron Mountain Incorporated has a 52-week low of $52.81 and a 52-week high of $82.19.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. Research analysts predict that Iron Mountain Incorporated will post 4.16 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is 412.70%.

Wall Street Analyst Weigh In

IRM has been the topic of a number of recent research reports. Wells Fargo & Company boosted their price target on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Barclays boosted 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 downgraded Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus boosted 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 investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.80.

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.