Iron Mountain Incorporated $IRM Stock Holdings Increased by Ellsworth Advisors LLC

Ellsworth Advisors LLC increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,194 shares of the financial services provider’s stock after purchasing an additional 216 shares during the quarter. Ellsworth Advisors LLC’s holdings in Iron Mountain were worth $2,168,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cranbrook Wealth Management LLC bought a new stake in shares of Iron Mountain in the 1st quarter worth approximately $26,000. Financial Network Wealth Advisors LLC acquired a new stake in shares of Iron Mountain during the first quarter valued at approximately $26,000. Golden State Wealth Management LLC acquired a new stake in shares of Iron Mountain during the first quarter valued at approximately $30,000. Ramirez Asset Management Inc. acquired a new stake in shares of Iron Mountain during the first quarter valued at approximately $34,000. Finally, Wayfinding Financial LLC acquired a new stake in shares of Iron Mountain during the first quarter valued at approximately $37,000. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Up 0.9%

IRM stock opened at $97.57 on Thursday. The company has a market capitalization of $28.82 billion, a price-to-earnings ratio of 696.99 and a beta of 1.08. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The firm has a 50 day moving average of $95.07 and a two-hundred day moving average of $93.29.

Iron Mountain (NYSE:IRM) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.19 by $0.05. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 earnings per share. On average, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Monday, September 15th will be issued a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. Iron Mountain’s dividend payout ratio is currently 2,242.86%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Barclays boosted their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $120.17.

Insider Activity

In related news, EVP Greg W. Mcintosh sold 17,334 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the completion of the sale, the executive vice president directly owned 35,446 shares of the company’s stock, valued at approximately $3,544,600. This represents a 32.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total transaction of $546,300.00. Following the sale, the executive vice president directly owned 79,081 shares of the company’s stock, valued at approximately $7,200,325.05. This represents a 7.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 236,709 shares of company stock valued at $22,555,809 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

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.