Moran Wealth Management LLC Decreases Stake in Iron Mountain Incorporated (NYSE:IRM)

Moran Wealth Management LLC cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 209,019 shares of the financial services provider’s stock after selling 6,128 shares during the quarter. Moran Wealth Management LLC’s holdings in Iron Mountain were worth $21,970,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in IRM. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $26,000. Key Financial Inc raised its holdings in 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. Ashton Thomas Securities LLC purchased a new stake in shares of Iron Mountain during the third quarter worth $31,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Iron Mountain in the third quarter worth $36,000. Finally, Dunhill Financial LLC grew its position in shares of Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 152 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $84.21 on Monday. The company’s fifty day moving average price is $100.25 and its 200-day moving average price is $111.02. The firm has a market capitalization of $24.74 billion, a price-to-earnings ratio of 138.05, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate 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 posted $0.52 earnings per share. As a group, equities research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.73%. Iron Mountain’s dividend payout ratio is currently 514.75%.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays decreased their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada raised their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company decreased their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $127.67.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Daniel Borges sold 6,433 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the sale, the chief accounting officer now directly owns 288 shares in the company, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 343,114 shares of company stock worth $33,323,682 in the last ninety days. 2.10% of the stock is owned by insiders.

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.