Naples Money Management LLC Buys Shares of 2,272 Iron Mountain Incorporated (NYSE:IRM)

Naples Money Management LLC purchased a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) in the fourth quarter, HoldingsChannel reports. The firm purchased 2,272 shares of the financial services provider’s stock, valued at approximately $159,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Global Retirement Partners LLC increased its holdings in shares of Iron Mountain by 1.7% in the 4th quarter. Global Retirement Partners LLC now owns 9,216 shares of the financial services provider’s stock valued at $612,000 after acquiring an additional 156 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in Iron Mountain by 17.1% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,171 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 171 shares during the last quarter. J.W. Cole Advisors Inc. raised its holdings in Iron Mountain by 2.8% during the third quarter. J.W. Cole Advisors Inc. now owns 6,429 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 177 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Iron Mountain by 4.0% during the 4th quarter. Federated Hermes Inc. now owns 4,599 shares of the financial services provider’s stock worth $322,000 after buying an additional 179 shares during the last quarter. Finally, Koshinski Asset Management Inc. boosted its holdings in shares of Iron Mountain by 4.6% in the 3rd quarter. Koshinski Asset Management Inc. now owns 4,293 shares of the financial services provider’s stock valued at $255,000 after buying an additional 188 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $68.24, for a total value of $1,083,310.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $20,175,156. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $1,083,310.00. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $20,175,156. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $9,150,743.10. Following the sale, the chief executive officer now owns 432,682 shares of the company’s stock, valued at $34,138,609.80. The disclosure for this sale can be found here. Insiders have sold a total of 164,124 shares of company stock worth $12,698,221 over the last three months. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on IRM. TheStreet lowered shares of Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Barclays raised their target price 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. Stifel Nicolaus upped their target price on shares of Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Finally, Wells Fargo & Company raised their price target on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. 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 stock. According to data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus target price of $73.80.

Iron Mountain Stock Performance

IRM traded up $0.68 during trading on Friday, hitting $75.10. The stock had a trading volume of 1,092,147 shares, compared to its average volume of 1,431,185. The firm has a market capitalization of $21.95 billion, a P/E ratio of 118.86, a PEG ratio of 4.52 and a beta of 0.94. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78. Iron Mountain Incorporated has a twelve month low of $52.81 and a twelve month high of $82.19. The company’s 50-day moving average price is $76.43 and its 200 day moving average price is $68.51.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.16 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently declared 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 3.46%. Iron Mountain’s dividend payout ratio is currently 412.70%.

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.