Blue Rock Wealth Management LLC Makes New $378,000 Investment in Iron Mountain Incorporated (NYSE:IRM)

Blue Rock Wealth Management LLC bought a new position in Iron Mountain Incorporated (NYSE:IRM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,600 shares of the financial services provider’s stock, valued at approximately $378,000.

A number of other large investors also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund lifted its holdings in Iron Mountain by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock worth $2,644,000 after buying an additional 100 shares in the last quarter. Premier Path Wealth Partners LLC boosted its holdings in Iron Mountain by 3.9% in the fourth quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock valued at $299,000 after acquiring an additional 106 shares during the last quarter. Belpointe Asset Management LLC increased its position in Iron Mountain by 1.6% in the fourth quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider’s stock worth $821,000 after purchasing an additional 112 shares during the period. Mather Group LLC. increased its position in Iron Mountain by 4.6% in the fourth quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 113 shares during the period. Finally, One Charles Private Wealth Services LLC raised its holdings in Iron Mountain by 1.0% during the 4th quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider’s stock worth $1,236,000 after purchasing an additional 119 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total transaction of $5,952,353.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the transaction, 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 318,973 shares of company stock valued at $29,370,872 in the last quarter. 2.10% of the stock is currently owned by insiders.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $89.85 on Thursday. The company has a market capitalization of $26.50 billion, a P/E ratio of 147.30, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. The business has a 50-day moving average of $85.85 and a two-hundred day moving average of $102.63. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.01. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. On average, equities analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were paid a $0.785 dividend. This is a boost 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 3.49%. Iron Mountain’s payout ratio is presently 514.75%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on IRM shares. Barclays dropped their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Wells Fargo & Company decreased their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Truist Financial started coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a “buy” rating and a $95.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. One research 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. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $121.29.

Iron Mountain Company 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.