Iron Mountain Incorporated $IRM Shares Sold by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 15.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,986 shares of the financial services provider’s stock after selling 534 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Iron Mountain were worth $307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Whittier Trust Co. lifted its stake in Iron Mountain by 3.4% during the 1st quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 108 shares during the period. Cooper Financial Group lifted its stake in Iron Mountain by 3.7% during the 2nd quarter. Cooper Financial Group now owns 3,155 shares of the financial services provider’s stock valued at $324,000 after acquiring an additional 113 shares during the period. Stratos Wealth Partners LTD. lifted its stake in shares of Iron Mountain by 3.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 118 shares during the period. Diversify Advisory Services LLC lifted its stake in shares of Iron Mountain by 1.9% in the 1st quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider’s stock valued at $572,000 after purchasing an additional 123 shares during the period. Finally, NorthRock Partners LLC lifted its stake in shares of Iron Mountain by 2.6% in the 1st quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider’s stock valued at $440,000 after purchasing an additional 131 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $91.05, for a total transaction of $546,300.00. Following the sale, the executive vice president directly owned 79,081 shares of the company’s stock, valued at $7,200,325.05. The trade was a 7.05% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,375 shares of company stock worth $20,347,156. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IRM shares. JPMorgan Chase & Co. decreased their target price on shares of 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 boosted their target price on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. Jefferies Financial Group started coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price for the company. Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.83.

Iron Mountain Stock Performance

NYSE:IRM opened at $103.90 on Thursday. The company has a fifty day moving average of $98.43 and a two-hundred day moving average of $96.46. The stock has a market capitalization of $30.69 billion, a PE ratio of 742.18 and a beta of 1.06. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24.

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

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were given a dividend of $0.785 per share. The ex-dividend date was Monday, September 15th. This represents a $3.14 dividend on an annualized basis and a yield of 3.0%. Iron Mountain’s dividend payout ratio is currently 2,242.86%.

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.