Steward Partners Investment Advisory LLC Grows Holdings in Iron Mountain Incorporated $IRM

Steward Partners Investment Advisory LLC grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,032 shares of the financial services provider’s stock after buying an additional 513 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Iron Mountain were worth $3,272,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kestra Private Wealth Services LLC boosted its stake in shares of Iron Mountain by 14.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider’s stock valued at $1,251,000 after buying an additional 1,860 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Iron Mountain during the 1st quarter valued at approximately $30,000. Inspire Trust Co. N.A. boosted its stake in shares of Iron Mountain by 21.4% during the 1st quarter. Inspire Trust Co. N.A. now owns 17,000 shares of the financial services provider’s stock valued at $1,463,000 after buying an additional 3,000 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Iron Mountain by 3.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 11,538 shares of the financial services provider’s stock valued at $993,000 after buying an additional 388 shares during the last quarter. Finally, Miracle Mile Advisors LLC boosted its stake in shares of Iron Mountain by 134.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 7,545 shares of the financial services provider’s stock valued at $649,000 after buying an additional 4,330 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $94.55, for a total value of $6,535,768.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Greg W. Mcintosh sold 17,334 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total value of $1,733,400.00. Following the completion of the sale, the executive vice president directly owned 35,446 shares in the company, valued at $3,544,600. This represents a 32.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 231,609 shares of company stock valued at $22,736,123 over the last three months. Corporate insiders own 1.90% of the company’s stock.

Iron Mountain Trading Down 0.3%

IRM stock opened at $91.2860 on Thursday. The firm has a market cap of $26.96 billion, a P/E ratio of 652.09 and a beta of 1.07. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The stock’s 50 day simple moving average is $98.02 and its 200 day simple moving average is $94.02.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.05. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the company posted $1.08 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. On average, research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Monday, September 15th will be given a $0.785 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.14 annualized dividend and a yield of 3.4%. Iron Mountain’s dividend payout ratio (DPR) is currently 2,242.86%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IRM. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Barclays upped their price target on Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $120.17.

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.