Sheets Smith Wealth Management Has $452,000 Position in Iron Mountain Incorporated (NYSE:IRM)

Sheets Smith Wealth Management trimmed its position in Iron Mountain Incorporated (NYSE:IRM) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,460 shares of the financial services provider’s stock after selling 245 shares during the quarter. Sheets Smith Wealth Management’s holdings in Iron Mountain were worth $452,000 at the end of the most recent reporting period.

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

Iron Mountain Stock Performance

Shares of IRM opened at $76.24 on Tuesday. The firm’s fifty day simple moving average is $78.16 and its two-hundred day simple moving average is $70.11. Iron Mountain Incorporated has a 12 month low of $52.81 and a 12 month high of $82.19. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63. The stock has a market capitalization of $22.35 billion, a P/E ratio of 116.37, a price-to-earnings-growth ratio of 4.51 and a beta of 0.96.

Iron Mountain (NYSE:IRM) last issued its 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). The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.45 billion. Iron Mountain had a return on equity of 282.93% and a net margin of 5.45%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. As a group, analysts predict that Iron Mountain Incorporated will post 4.18 EPS for the current year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s dividend payout ratio (DPR) is currently 393.95%.

Insider Activity

In other Iron Mountain news, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the sale, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at $247,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Iron Mountain news, Director Wendy J. Murdock sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $75.35, for a total transaction of $113,025.00. Following the completion of the sale, the director now directly owns 24,491 shares of the company’s stock, valued at approximately $1,845,396.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the transaction, the chief accounting officer now owns 3,095 shares in the company, valued at approximately $247,600. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 149,749 shares of company stock worth $11,748,676. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.