Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Shelton Capital Management

Shelton Capital Management lifted its stake in Iron Mountain Incorporated (NYSE:IRM) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,663 shares of the financial services provider’s stock after buying an additional 292 shares during the quarter. Shelton Capital Management’s holdings in Iron Mountain were worth $4,274,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Key Financial Inc grew its stake in shares of Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC acquired a new stake in Iron Mountain during the fourth quarter valued at $26,000. IMG Wealth Management Inc. purchased a new position in Iron Mountain in the fourth quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Iron Mountain by 46.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 155 shares during the period. Finally, Parkworth Wealth Management Inc. acquired a new stake in shares of Iron Mountain during the 4th quarter valued at about $53,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Trading Down 0.9 %

NYSE:IRM opened at $76.86 on Wednesday. The company has a market cap of $22.58 billion, a P/E ratio of 126.00, a P/E/G ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The company’s 50-day moving average price is $90.92 and its 200-day moving average price is $106.43.

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

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were paid a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

Analyst Ratings Changes

IRM has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Barclays decreased their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. JPMorgan Chase & Co. dropped their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Truist Financial began coverage on shares of Iron Mountain in a report on Tuesday. They set a “buy” rating and a $95.00 price objective on the stock. Finally, StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain presently has a consensus rating of “Buy” and a consensus price target of $121.29.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 172,552 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the sale, the chief executive officer now owns 237,402 shares in the company, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the transaction, the chief accounting officer now directly owns 288 shares in the company, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 318,973 shares of company stock worth $29,370,872 over the last three months. Insiders own 2.10% of the company’s stock.

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.