Sagespring Wealth Partners LLC Takes $219,000 Position in Iron Mountain Incorporated (NYSE:IRM)

Sagespring Wealth Partners LLC bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 2,086 shares of the financial services provider’s stock, valued at approximately $219,000.

A number of other large investors have also added to or reduced their stakes in IRM. Oregon Public Employees Retirement Fund increased its holdings in Iron Mountain by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock worth $2,644,000 after purchasing an additional 100 shares during the last quarter. Premier Path Wealth Partners LLC increased its stake in shares of Iron Mountain by 3.9% in the fourth quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock worth $299,000 after buying an additional 106 shares during the last quarter. Mather Group LLC. raised its holdings in Iron Mountain by 4.6% in the fourth quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider’s stock valued at $271,000 after acquiring an additional 113 shares in the last quarter. One Charles Private Wealth Services LLC boosted its stake in Iron Mountain by 1.0% during the 4th quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider’s stock valued at $1,236,000 after acquiring an additional 119 shares during the last quarter. Finally, Secured Retirement Advisors LLC grew its holdings in Iron Mountain by 6.5% during the 4th quarter. Secured Retirement Advisors LLC now owns 1,967 shares of the financial services provider’s stock worth $207,000 after acquiring an additional 120 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Truist Financial initiated coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They set a “buy” rating and a $95.00 price target on the stock. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday. Barclays dropped their price target on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. JPMorgan Chase & Co. lowered their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company reduced their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $121.29.

Insider Activity

In related news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the transaction, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 318,973 shares of company stock valued at $29,370,872. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM opened at $84.21 on Friday. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24. The firm has a fifty day moving average of $87.73 and a 200-day moving average of $104.67. The company has a market cap of $24.74 billion, a price-to-earnings ratio of 138.05, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM) last posted its 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 firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate 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 quarter last year, the company posted $0.52 EPS. Analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were paid a $0.785 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.73%. Iron Mountain’s dividend payout ratio is presently 514.75%.

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.