Iron Mountain Incorporated (NYSE:IRM) Shares Bought by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC increased its stake in Iron Mountain Incorporated (NYSE:IRM) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,230 shares of the financial services provider’s stock after acquiring an additional 289 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in Iron Mountain were worth $970,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IRM. Key Financial Inc raised its stake 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 worth $26,000 after purchasing an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Iron Mountain in the 4th quarter worth $26,000. IMG Wealth Management Inc. acquired a new position in Iron Mountain in the fourth quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Iron Mountain by 46.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new stake in Iron Mountain during the fourth quarter valued at about $53,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IRM shares. Barclays reduced their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. 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. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Finally, Truist Financial began coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price target for the company. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Iron Mountain presently has an average rating of “Buy” and a consensus price target of $121.29.

Iron Mountain Trading Down 0.5%

NYSE IRM opened at $96.94 on Thursday. The stock has a market cap of $28.60 billion, a P/E ratio of 158.92, a PEG ratio of 5.15 and a beta of 1.08. The company’s fifty day simple moving average is $87.24 and its 200-day simple moving average is $100.71. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.01. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 EPS. On average, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be paid a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain’s dividend payout ratio (DPR) is 765.85%.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,211,933.36. This represents a 11.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $96.09, for a total transaction of $6,642,221.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 318,973 shares of company stock valued at $29,112,345. Insiders own 2.10% of the company’s stock.

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.