Spire Wealth Management Sells 1,695 Shares of Iron Mountain Incorporated $IRM

Spire Wealth Management lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 11.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,478 shares of the financial services provider’s stock after selling 1,695 shares during the quarter. Spire Wealth Management’s holdings in Iron Mountain were worth $1,382,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IRM. Financial Network Wealth Advisors LLC bought a new stake in Iron Mountain in the first quarter valued at about $26,000. Golden State Wealth Management LLC bought a new stake in Iron Mountain in the first quarter valued at about $30,000. Ramirez Asset Management Inc. bought a new stake in Iron Mountain in the first quarter valued at about $34,000. Wayfinding Financial LLC bought a new stake in Iron Mountain in the first quarter valued at about $37,000. Finally, Richards Merrill & Peterson Inc. bought a new stake in shares of Iron Mountain in the first quarter worth about $43,000. Institutional investors own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total transaction of $546,300.00. Following the completion of the transaction, the executive vice president directly owned 79,081 shares in the company, valued at approximately $7,200,325.05. This trade represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total value of $7,074,252.50. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 144,250 shares of company stock valued at $13,811,388. 1.90% of the stock is owned by corporate insiders.

Iron Mountain Stock Performance

NYSE:IRM opened at $103.12 on Friday. The company has a market cap of $30.46 billion, a PE ratio of 736.60 and a beta of 1.06. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $127.29. The stock has a 50-day simple moving average of $100.12 and a 200 day simple moving average of $97.66.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping 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 negative return on equity of 146.80% and a net margin of 0.66%.Iron Mountain’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $1.08 earnings per share. On average, research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were issued a dividend of $0.785 per share. The ex-dividend date was Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.0%. Iron Mountain’s dividend payout ratio (DPR) is presently 2,242.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Barclays increased their price target on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. lowered their price target on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Finally, Jefferies Financial Group assumed coverage on Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate 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.