Welch & Forbes LLC Has $51.20 Million Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Welch & Forbes LLC reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 731,578 shares of the financial services provider’s stock after selling 6,116 shares during the period. Welch & Forbes LLC owned approximately 0.25% of Iron Mountain worth $51,196,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Iron Mountain by 13.7% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,380 shares of the financial services provider’s stock valued at $446,000 after purchasing an additional 771 shares during the period. Apollon Wealth Management LLC lifted its position in shares of Iron Mountain by 8.4% during the 4th quarter. Apollon Wealth Management LLC now owns 24,112 shares of the financial services provider’s stock valued at $1,687,000 after acquiring an additional 1,862 shares during the period. MeadowBrook Investment Advisors LLC acquired a new position in Iron Mountain in the fourth quarter valued at about $160,000. Spire Wealth Management grew its stake in Iron Mountain by 258.6% during the fourth quarter. Spire Wealth Management now owns 9,896 shares of the financial services provider’s stock worth $662,000 after buying an additional 7,136 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Iron Mountain by 7.5% during the 4th quarter. National Bank of Canada FI now owns 84,160 shares of the financial services provider’s stock worth $5,776,000 after acquiring an additional 5,886 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IRM shares. Wells Fargo & Company upped their target price on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Barclays lifted their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Stifel Nicolaus upped 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. Finally, TheStreet downgraded Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.80.

Insider Buying and Selling at Iron Mountain

In other news, EVP Edward Baker-Greene sold 4,941 shares of Iron Mountain stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $72.94, for a total value of $360,396.54. Following the completion of the sale, the executive vice president now owns 3,365 shares in the company, valued at approximately $245,443.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 completion of the sale, the chief executive officer now directly owns 432,682 shares in the company, valued at approximately $34,138,609.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Edward Baker-Greene sold 4,941 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $72.94, for a total value of $360,396.54. Following the transaction, the executive vice president now directly owns 3,365 shares in the company, valued at $245,443.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 149,749 shares of company stock valued at $11,748,676. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Trading Up 2.0 %

Shares of NYSE IRM traded up $1.48 during trading on Monday, reaching $76.80. The company had a trading volume of 1,136,897 shares, compared to its average volume of 1,432,210. Iron Mountain Incorporated has a 12 month low of $52.81 and a 12 month high of $82.19. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. The stock has a market cap of $22.51 billion, a P/E ratio of 116.37, a PEG ratio of 4.51 and a beta of 0.96. The company’s fifty day moving average price is $78.13 and its 200-day moving average price is $69.99.

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

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 annualized dividend and a yield of 3.39%. Iron Mountain’s dividend payout ratio is currently 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.