EP Wealth Advisors LLC Takes $1.02 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Posted by Defense World Staff on Mar 17th, 2023

EP Wealth Advisors LLC acquired a new stake in shares of Iron Mountain Incorporated (NYSE:IRM – Get Rating) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 23,155 shares of the financial services provider’s stock, valued at approximately $1,018,000.

Several other institutional investors and hedge funds also recently made changes to their positions in IRM. Acadian Asset Management LLC grew its holdings in shares of Iron Mountain by 15.1% during the 1st quarter. Acadian Asset Management LLC now owns 2,503 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 328 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Iron Mountain by 71.3% during the 1st quarter. Panagora Asset Management Inc. now owns 18,549 shares of the financial services provider’s stock valued at $1,028,000 after purchasing an additional 7,719 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Iron Mountain by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,743 shares of the financial services provider’s stock valued at $2,147,000 after purchasing an additional 2,399 shares during the last quarter. APG Asset Management N.V. grew its holdings in shares of Iron Mountain by 13.0% during the 1st quarter. APG Asset Management N.V. now owns 18,205 shares of the financial services provider’s stock valued at $907,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Raymond James Trust N.A. grew its holdings in Iron Mountain by 52.8% in the 1st quarter. Raymond James Trust N.A. now owns 7,552 shares of the financial services provider’s stock worth $419,000 after acquiring an additional 2,608 shares during the last quarter. Institutional investors own 77.12% of the company’s stock.

Iron Mountain Trading Up 0.0 %

Shares of IRM opened at $52.08 on Friday. The firm’s 50-day moving average price is $52.86 and its 200-day moving average price is $51.43. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 3.62 and a beta of 0.89. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 16.46. Iron Mountain Incorporated has a 1-year low of $43.33 and a 1-year high of $58.61.

Iron Mountain (NYSE:IRM – Get Rating) last announced its earnings results on Thursday, February 23rd. The financial services provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.46). The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.32 billion. Iron Mountain had a net margin of 10.91% and a return on equity of 79.49%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. Sell-side analysts anticipate that Iron Mountain Incorporated will post 3.64 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Investors of record on Wednesday, March 15th will be given a dividend of $0.6185 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.62. This represents a $2.47 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend is Tuesday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is 130.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IRM shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 price target on shares of Iron Mountain in a report on Monday, March 6th. BNP Paribas started coverage on shares of Iron Mountain in a report on Wednesday, December 14th. They issued an “outperform” rating and a $66.00 price target on the stock. StockNews.com started coverage on shares of Iron Mountain in a report on Thursday. They issued a “hold” rating on the stock. Finally, Exane BNP Paribas started coverage on shares of Iron Mountain in a report on Wednesday, December 14th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.80.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 10,507 shares of Iron Mountain stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $50.63, for a total transaction of $531,969.41. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $14,968,759.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $53.72, for a total transaction of $60,435.00. Following the completion of the transaction, the executive vice president now directly owns 63,151 shares of the company’s stock, valued at approximately $3,392,471.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 10,507 shares of Iron Mountain stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $50.63, for a total transaction of $531,969.41. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $14,968,759.50. The disclosure for this sale can be found here. Insiders sold a total of 105,059 shares of company stock valued at $5,502,935 in the last three months. Company insiders own 2.10% of the company’s stock.

Iron Mountain Company Profile

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Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.