Daymark Wealth Partners LLC Purchases 135 Shares of Iron Mountain Incorporated $IRM

Daymark Wealth Partners LLC grew its position in Iron Mountain Incorporated (NYSE:IRM) by 5.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,767 shares of the financial services provider’s stock after acquiring an additional 135 shares during the period. Daymark Wealth Partners LLC’s holdings in Iron Mountain were worth $284,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Kestra Private Wealth Services LLC increased its holdings in Iron Mountain by 14.7% in the first quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider’s stock valued at $1,251,000 after purchasing an additional 1,860 shares during the period. Goldman Sachs Group Inc. increased its holdings in Iron Mountain by 86.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,974,922 shares of the financial services provider’s stock valued at $169,922,000 after purchasing an additional 913,715 shares during the period. Golden State Wealth Management LLC acquired a new stake in Iron Mountain in the first quarter valued at $30,000. Steward Partners Investment Advisory LLC increased its holdings in Iron Mountain by 1.4% in the first quarter. Steward Partners Investment Advisory LLC now owns 38,032 shares of the financial services provider’s stock valued at $3,272,000 after purchasing an additional 513 shares during the period. Finally, Penobscot Investment Management Company Inc. acquired a new stake in Iron Mountain in the second quarter valued at $517,000. 80.13% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total value of $546,300.00. Following the completion of the sale, the executive vice president directly owned 79,081 shares in the company, valued at $7,200,325.05. This trade represents a 7.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total value of $7,074,252.50. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 144,250 shares of company stock valued at $13,811,388. 1.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on IRM. Jefferies Financial Group began coverage on Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective for the company. Barclays increased their price target on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price target on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Finally, Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $116.83.

Iron Mountain Price Performance

Shares of IRM opened at $103.12 on Friday. The stock has a 50-day moving average of $100.12 and a 200-day moving average of $97.66. The company has a market cap of $30.46 billion, a PE ratio of 736.60 and a beta of 1.06. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $127.29.

Iron Mountain (NYSE:IRM) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS for the quarter, beating 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 negative return on equity of 146.80% and a net margin of 0.66%.The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $1.08 EPS. Analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were paid a $0.785 dividend. The ex-dividend date was Monday, September 15th. This represents a $3.14 annualized dividend and a dividend yield of 3.0%. Iron Mountain’s dividend payout ratio (DPR) is currently 2,242.86%.

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.