Moran Wealth Management LLC Cuts Stake in Iron Mountain Incorporated $IRM

Moran Wealth Management LLC reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 204,196 shares of the financial services provider’s stock after selling 1,794 shares during the period. Moran Wealth Management LLC owned about 0.07% of Iron Mountain worth $20,944,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in IRM. Financial Network Wealth Advisors LLC purchased a new stake in shares of Iron Mountain in the 1st quarter valued at approximately $26,000. Golden State Wealth Management LLC acquired a new stake in Iron Mountain during the 1st quarter worth $30,000. Ramirez Asset Management Inc. acquired a new stake in Iron Mountain during the 1st quarter worth $34,000. Wayfinding Financial LLC acquired a new stake in Iron Mountain during the 1st quarter worth $37,000. Finally, Crewe Advisors LLC boosted its stake in Iron Mountain by 10,000.0% during the 1st quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 500 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Up 0.5%

Shares of IRM opened at $102.31 on Tuesday. The company has a 50-day simple moving average of $96.64 and a 200-day simple moving average of $95.63. The company has a market capitalization of $30.22 billion, a PE ratio of 730.84 and a beta of 1.06. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.08 EPS. On average, research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 15th were issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is currently 2,242.86%.

Insider Activity

In other Iron Mountain news, 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 transaction of $7,074,252.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total transaction of $546,300.00. Following the transaction, the executive vice president owned 79,081 shares of the company’s stock, valued at $7,200,325.05. This trade represents a 7.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 213,375 shares of company stock worth $20,347,156 in the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

IRM has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. Jefferies Financial Group initiated coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price for the company. JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Finally, Barclays raised their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Iron Mountain currently has a consensus rating of “Buy” and an average target price of $116.83.

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.