Geneos Wealth Management Inc. Increases Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Geneos Wealth Management Inc. boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 196.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,681 shares of the financial services provider’s stock after acquiring an additional 3,102 shares during the period. Geneos Wealth Management Inc.’s holdings in Iron Mountain were worth $375,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in Iron Mountain in the fourth quarter valued at approximately $16,590,000. Goldman Sachs Group Inc. raised its position in shares of Iron Mountain by 6.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 940,090 shares of the financial services provider’s stock valued at $65,787,000 after buying an additional 59,381 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Iron Mountain by 42.3% during the 4th quarter. Handelsbanken Fonder AB now owns 162,087 shares of the financial services provider’s stock worth $11,343,000 after acquiring an additional 48,170 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Iron Mountain by 6.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 462,652 shares of the financial services provider’s stock worth $30,637,000 after acquiring an additional 27,551 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Iron Mountain by 60.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock valued at $285,960,000 after acquiring an additional 1,546,592 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $77.80, for a total value of $155,600.00. Following the completion of the sale, the executive vice president now owns 63,286 shares of the company’s stock, valued at approximately $4,923,650.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $77.80, for a total value 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 $4,923,650.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $91.59, for a total transaction of $1,453,991.25. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $27,078,583.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,928 shares of company stock worth $9,726,673. 2.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on IRM shares. Wells Fargo & Company upped their price objective on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. The Goldman Sachs Group lifted their target price on shares of Iron Mountain from $89.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Stifel Nicolaus upped their price target on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $82.83.

Iron Mountain Stock Performance

Shares of IRM stock opened at $95.00 on Friday. Iron Mountain Incorporated has a 52 week low of $56.51 and a 52 week high of $97.50. The stock has a fifty day moving average of $84.96 and a 200 day moving average of $77.43. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. The firm has a market capitalization of $27.85 billion, a price-to-earnings ratio of 143.21, a PEG ratio of 5.64 and a beta of 0.98.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Monday, June 17th were paid a $0.65 dividend. The ex-dividend date was Monday, June 17th. This represents a $2.60 annualized dividend and a yield of 2.74%. Iron Mountain’s payout ratio is 393.95%.

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.