Transce3nd LLC Acquires Shares of 1,285 Iron Mountain Incorporated (NYSE:IRM)

Transce3nd LLC bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,285 shares of the financial services provider’s stock, valued at approximately $135,000.

Other institutional investors have also made changes to their positions in the company. Key Financial Inc raised its holdings in Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC bought a new stake in Iron Mountain during the fourth quarter worth about $26,000. IMG Wealth Management Inc. acquired a new stake in Iron Mountain during the fourth quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after buying an additional 155 shares during the period. Finally, Parkworth Wealth Management Inc. acquired a new position in shares of Iron Mountain in the 4th quarter valued at approximately $53,000. 80.13% of the stock is currently owned by institutional investors.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. This trade represents a 42.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 318,973 shares of company stock worth $29,370,872. Company insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

IRM opened at $84.21 on Monday. The company’s 50 day moving average price is $87.29 and its two-hundred day moving average price is $104.24. The firm has a market capitalization of $24.74 billion, a price-to-earnings ratio of 138.05, a PEG ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate 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 in the prior year, the business earned $0.52 earnings per share. As a group, equities research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were issued a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.73%. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Analysts Set New Price Targets

Several research firms recently issued reports on IRM. Wells Fargo & Company reduced 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 report on Tuesday, February 4th. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday. Barclays reduced their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Truist Financial initiated coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a “buy” rating and a $95.00 target price for the company. Finally, JPMorgan Chase & Co. reduced 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. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $121.29.

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.