Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Core Wealth Partners LLC

Core Wealth Partners LLC lessened its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 20.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,127 shares of the financial services provider’s stock after selling 790 shares during the period. Core Wealth Partners LLC’s holdings in Iron Mountain were worth $329,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Trust Investment Advisors raised its stake in Iron Mountain by 11.4% in the 4th quarter. Trust Investment Advisors now owns 18,163 shares of the financial services provider’s stock worth $1,909,000 after acquiring an additional 1,860 shares during the last quarter. Prestige Wealth Management Group LLC lifted its holdings in shares of Iron Mountain by 8.2% during the fourth quarter. Prestige Wealth Management Group LLC now owns 4,160 shares of the financial services provider’s stock worth $440,000 after purchasing an additional 314 shares during the period. TD Asset Management Inc. boosted its position in Iron Mountain by 125.4% in the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock valued at $205,220,000 after buying an additional 1,086,308 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of Iron Mountain during the 4th quarter worth about $2,646,000. Finally, Corebridge Financial Inc. grew its position in shares of Iron Mountain by 0.7% during the 4th quarter. Corebridge Financial Inc. now owns 76,267 shares of the financial services provider’s stock valued at $8,016,000 after acquiring an additional 524 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Trading Down 2.5 %

IRM stock opened at $87.84 on Wednesday. The company has a market cap of $25.80 billion, a price-to-earnings ratio of 144.00, a PEG ratio of 5.15 and a beta of 1.04. The firm has a 50-day moving average of $96.32 and a two-hundred day moving average of $108.88. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data 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 company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the business posted $0.52 EPS. As a group, equities analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company 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 $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.57%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s payout ratio is presently 514.75%.

Insider Activity

In related news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mithu Bhargava sold 1,738 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 318,979 shares of company stock valued at $30,666,904 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Royal Bank of Canada raised their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday. Barclays decreased their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. JPMorgan Chase & Co. cut their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company decreased their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Iron Mountain has a consensus rating of “Buy” and an average price target of $125.67.

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.