Heritage Trust Co Invests $2.33 Million in Iron Mountain Incorporated (NYSE:IRM)

Heritage Trust Co acquired a new stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,155 shares of the financial services provider's stock, valued at approximately $2,329,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Key Financial Inc lifted its position in Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after buying an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC bought a new stake in Iron Mountain in the 4th quarter worth $26,000. IMG Wealth Management Inc. bought a new position in shares of Iron Mountain during the fourth quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after buying an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. bought a new position in shares of Iron Mountain during the fourth quarter valued at approximately $53,000. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Stock Down 0.7 %

Iron Mountain stock traded down $0.57 during midday trading on Wednesday, reaching $82.73. 434,007 shares of the stock traded hands, compared to its average volume of 1,815,884. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The stock's fifty day moving average is $88.63 and its 200-day moving average is $105.07. The stock has a market cap of $24.30 billion, a P/E ratio of 135.62, a PEG ratio of 5.15 and a beta of 0.97.

Remove Ads

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

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were paid a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.80%. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 17th. Iron Mountain's payout ratio is 514.75%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mithu Bhargava sold 1,738 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 318,973 shares of company stock valued at $29,370,872 in the last ninety days. Corporate insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

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