Cerity Partners LLC Purchases New Holdings in Iron Mountain Incorporated (NYSE:IRM)

Cerity Partners LLC acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 10,523 shares of the financial services provider’s stock, valued at approximately $737,000.

Several other large investors also recently bought and sold shares of the company. Sandy Spring Bank increased its position in shares of Iron Mountain by 523.6% during the fourth quarter. Sandy Spring Bank now owns 923 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 775 shares in the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Iron Mountain by 48.2% during the fourth quarter. Harbor Investment Advisory LLC now owns 618 shares of the financial services provider’s stock worth $43,000 after buying an additional 201 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Iron Mountain in the fourth quarter valued at about $717,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Iron Mountain by 26.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 107,238 shares of the financial services provider’s stock worth $7,505,000 after buying an additional 22,280 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its position in Iron Mountain by 9.5% during the fourth quarter. Bleakley Financial Group LLC now owns 16,212 shares of the financial services provider’s stock worth $1,134,000 after acquiring an additional 1,406 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total transaction of $134,860.00. Following the transaction, the executive vice president now directly owns 48,026 shares in the company, valued at $3,238,393.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William L. Meaney sold 115,979 shares of Iron Mountain stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $78.90, for a total value of $9,150,743.10. Following the completion of the transaction, the chief executive officer now owns 432,682 shares in the company, valued at $34,138,609.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total value of $134,860.00. Following the sale, the executive vice president now directly owns 48,026 shares in the company, valued at approximately $3,238,393.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,124 shares of company stock valued at $12,698,221. Company insiders own 2.20% of the company’s stock.

Iron Mountain Trading Up 1.0 %

Shares of Iron Mountain stock opened at $76.60 on Wednesday. The stock has a 50 day moving average of $76.89 and a 200 day moving average of $69.04. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $22.39 billion, a price-to-earnings ratio of 121.59, a PEG ratio of 4.51 and a beta of 0.94. Iron Mountain Incorporated has a fifty-two week low of $52.81 and a fifty-two week high of $82.19.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, research analysts predict that Iron Mountain Incorporated will post 4.16 earnings per share for the current year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a $0.65 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.60 annualized dividend and a dividend yield of 3.39%. Iron Mountain’s dividend payout ratio is currently 412.70%.

Wall Street Analysts Forecast Growth

IRM has been the subject of a number of recent research reports. TheStreet downgraded shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Wells Fargo & Company lifted their price objective on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Barclays upped their target price on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Finally, Stifel Nicolaus lifted their price target on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.80.

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.