Townsquare Capital LLC Has $1.09 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Townsquare Capital LLC increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,331 shares of the financial services provider’s stock after purchasing an additional 202 shares during the quarter. Townsquare Capital LLC’s holdings in Iron Mountain were worth $1,086,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. IMG Wealth Management Inc. bought a new position in shares of Iron Mountain during the fourth quarter worth about $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Iron Mountain during the fourth quarter worth $26,000. Key Financial Inc boosted its position in Iron Mountain by 25,100.0% during the fourth 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 last quarter. Whittier Trust Co. of Nevada Inc. raised 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 acquiring an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. bought a new stake in shares of Iron Mountain during the 4th quarter valued at about $53,000. 80.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IRM shares. Truist Financial began coverage on Iron Mountain in a report on Tuesday, April 8th. They set a “buy” rating and a $95.00 price target on the stock. Barclays dropped their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday. Wells Fargo & Company cut their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $121.29.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total value of $5,952,353.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 172,552 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the transaction, the chief executive officer now directly owns 237,402 shares in the company, valued at $21,681,924.66. This represents a 42.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 318,973 shares of company stock worth $29,370,872. Insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

IRM opened at $84.21 on Friday. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The firm has a market capitalization of $24.74 billion, a P/E ratio of 138.05, a PEG ratio of 5.15 and a beta of 0.97. The company’s 50-day moving average is $87.73 and its 200 day moving average is $104.67.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 2.95% and a negative return on equity of 401.83%. During the same period in the previous year, the business posted $0.52 earnings per share. On average, equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

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

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.