GeoWealth Management LLC Has $2.86 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

GeoWealth Management LLC grew its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 25.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,229 shares of the financial services provider's stock after purchasing an additional 5,490 shares during the quarter. GeoWealth Management LLC's holdings in Iron Mountain were worth $2,862,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Key Financial Inc lifted its position in shares of Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC bought a new stake in Iron Mountain during the fourth quarter worth $26,000. IMG Wealth Management Inc. purchased a new stake in Iron Mountain during the fourth quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Iron Mountain by 46.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 155 shares during the period. Finally, Parkworth Wealth Management Inc. purchased a new stake in Iron Mountain in the 4th quarter worth about $53,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Stock Performance

Shares of IRM traded up $1.18 during midday trading on Wednesday, hitting $84.21. The company had a trading volume of 1,007,492 shares, compared to its average volume of 1,824,776. The company's 50-day simple moving average is $86.62 and its 200-day simple moving average is $103.84. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The firm has a market capitalization of $24.74 billion, a P/E ratio of 138.06, a P/E/G ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period last year, the business earned $0.52 earnings per share. Equities analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were given a $0.785 dividend. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.73%. Iron Mountain's dividend payout ratio (DPR) is presently 514.75%.

Insiders Place Their Bets

In other news, EVP Mithu Bhargava sold 1,738 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. This represents a 11.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total transaction of $5,952,353.75. The disclosure for this sale can be found here. Insiders have sold 318,973 shares of company stock valued at $29,370,872 over the last quarter. Insiders own 2.10% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on IRM shares. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. Barclays reduced their price objective on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. Wells Fargo & Company dropped their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Finally, Truist Financial started coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $121.29.

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.