Corient Private Wealth LLC Has $22.72 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Corient Private Wealth LLC lessened its holdings in Iron Mountain Incorporated (NYSE:IRM) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 216,142 shares of the financial services provider’s stock after selling 6,087 shares during the period. Corient Private Wealth LLC owned approximately 0.07% of Iron Mountain worth $22,719,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC raised its stake in shares of Iron Mountain by 1.5% in the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after acquiring an additional 89 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Iron Mountain by 3.2% in the third quarter. Empowered Funds LLC now owns 13,482 shares of the financial services provider’s stock valued at $1,602,000 after acquiring an additional 414 shares during the last quarter. Swiss National Bank raised its stake in shares of Iron Mountain by 0.3% in the third quarter. Swiss National Bank now owns 869,961 shares of the financial services provider’s stock valued at $103,377,000 after acquiring an additional 2,200 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Iron Mountain in the third quarter valued at approximately $215,000. Finally, Caldwell Investment Management Ltd. bought a new position in shares of Iron Mountain in the third quarter valued at approximately $688,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity

In other news, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares of the company’s stock, valued at $26,737.92. The trade was a 95.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 327,242 shares of company stock valued at $31,530,305 in the last quarter. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on IRM. Royal Bank of Canada lifted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Barclays dropped their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Finally, Wells Fargo & Company dropped their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and an average price target of $127.67.

Iron Mountain Stock Performance

IRM opened at $87.56 on Wednesday. The company has a fifty day moving average price of $97.73 and a two-hundred day moving average price of $109.69. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24. The firm has a market capitalization of $25.72 billion, a PE ratio of 143.54, a P/E/G ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the firm posted $0.52 EPS. Equities analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is currently 514.75%.

Iron Mountain 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.