Steel Peak Wealth Management LLC bought a new position in shares of Iron Mountain Inc (NYSE:IRM) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 27,123 shares of the financial services provider’s stock, valued at approximately $864,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Macroview Investment Management LLC acquired a new position in shares of Iron Mountain during the 3rd quarter valued at about $25,000. TRUE Private Wealth Advisors acquired a new position in shares of Iron Mountain during the 4th quarter valued at about $25,000. Penserra Capital Management LLC acquired a new position in shares of Iron Mountain during the 3rd quarter valued at about $29,000. Trustcore Financial Services LLC boosted its position in shares of Iron Mountain by 99.6% during the 4th quarter. Trustcore Financial Services LLC now owns 1,000 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 499 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its position in shares of Iron Mountain by 2,222.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,045 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 1,000 shares during the last quarter. 83.46% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on IRM. ValuEngine raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. Credit Suisse Group lowered their price target on shares of Iron Mountain from $21.00 to $18.00 and set an “underperform” rating on the stock in a research report on Tuesday, November 26th. Finally, Goldman Sachs Group reissued a “buy” rating and set a $40.00 price target on shares of Iron Mountain in a research report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Iron Mountain presently has a consensus rating of “Hold” and an average price target of $31.37.
In related news, Director Jennifer Allerton sold 5,000 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $32.96, for a total value of $164,800.00. Following the sale, the director now directly owns 18,484 shares in the company, valued at approximately $609,232.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.90% of the stock is currently owned by insiders.
IRM traded down $0.30 on Friday, hitting $33.06. The company had a trading volume of 204,617 shares, compared to its average volume of 2,861,628. The firm has a market cap of $9.18 billion, a P/E ratio of 24.66, a PEG ratio of 2.44 and a beta of 0.53. Iron Mountain Inc has a 1 year low of $29.28 and a 1 year high of $36.65. The company’s fifty day moving average price is $31.48 and its 200 day moving average price is $32.10. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 6.51.
Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.32). The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Iron Mountain had a net margin of 9.14% and a return on equity of 21.57%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 earnings per share. On average, analysts predict that Iron Mountain Inc will post 2.27 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Monday, March 16th will be issued a $0.6185 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.61. This represents a $2.47 annualized dividend and a yield of 7.48%. The ex-dividend date is Friday, March 13th. Iron Mountain’s payout ratio is 107.39%.
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.
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