Merit Financial Group LLC Has $607,000 Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Merit Financial Group LLC lessened its holdings in Iron Mountain Incorporated (NYSE:IRM) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,678 shares of the financial services provider’s stock after selling 709 shares during the period. Merit Financial Group LLC’s holdings in Iron Mountain were worth $607,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Manchester Capital Management LLC raised its stake in shares of Iron Mountain by 6,983.3% in the third quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 419 shares during the last quarter. Blue Trust Inc. lifted its stake in Iron Mountain by 201.7% during the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 242 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Iron Mountain in the 4th quarter worth $26,000. CVA Family Office LLC purchased a new stake in shares of Iron Mountain in the fourth quarter valued at about $32,000. Finally, Muzinich & Co. Inc. bought a new position in shares of Iron Mountain during the third quarter valued at about $35,000. Institutional investors own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 115,979 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $78.90, for a total value of $9,150,743.10. Following the sale, the chief executive officer now owns 432,682 shares of the company’s stock, valued at approximately $34,138,609.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Iron Mountain news, CEO William L. Meaney sold 115,979 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $78.90, for a total transaction of $9,150,743.10. Following the sale, the chief executive officer now owns 432,682 shares in the company, valued at $34,138,609.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edward Baker-Greene sold 4,941 shares of Iron Mountain stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $72.94, for a total value of $360,396.54. Following the sale, the executive vice president now directly owns 3,365 shares of the company’s stock, valued at approximately $245,443.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 149,749 shares of company stock valued at $11,748,676. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IRM shares. Barclays upped their price objective on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Wells Fargo & Company upped their price objective on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, Stifel Nicolaus boosted their price target on shares of 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 given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.80.

Iron Mountain Trading Up 2.0 %

Shares of IRM stock opened at $76.80 on Tuesday. Iron Mountain Incorporated has a 1 year low of $52.81 and a 1 year high of $82.19. The company’s fifty day simple moving average is $78.16 and its two-hundred day simple moving average is $70.11. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market capitalization of $22.51 billion, a price-to-earnings ratio of 116.37, a PEG ratio of 4.51 and a beta of 0.96.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.48). The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.45 billion. Iron Mountain had a net margin of 5.45% and a return on equity of 282.93%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. As a group, analysts anticipate that Iron Mountain Incorporated will post 4.18 earnings per share for the current year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.39%. Iron Mountain’s dividend payout ratio (DPR) is presently 393.95%.

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.