Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Shelton Capital Management

Shelton Capital Management increased its stake in Iron Mountain Incorporated (NYSE:IRM) by 0.7% during the 4th quarter, Holdings Channel reports. The fund owned 40,663 shares of the financial services provider’s stock after purchasing an additional 292 shares during the quarter. Shelton Capital Management’s holdings in Iron Mountain were worth $4,274,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IRM. IMG Wealth Management Inc. purchased a new stake in Iron Mountain during the 4th quarter worth about $26,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Iron Mountain during the fourth quarter worth approximately $26,000. Key Financial Inc raised its holdings in Iron Mountain by 25,100.0% in 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 in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake 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 worth $51,000 after acquiring an additional 155 shares during the last quarter. Finally, Quarry LP grew its holdings in Iron Mountain by 86.5% during the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 230 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Trading Down 0.9 %

IRM stock opened at $76.86 on Wednesday. The business has a 50 day simple moving average of $90.92 and a 200-day simple moving average of $106.43. The company has a market capitalization of $22.58 billion, a P/E ratio of 126.00, a PEG ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate 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 negative return on equity of 401.83% and a net margin of 2.95%. During the same period in the previous year, the business posted $0.52 earnings per share. Research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal 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 $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 4.09%. The ex-dividend date was Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is 514.75%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IRM shares. Wells Fargo & Company reduced their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Barclays decreased their price target on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. JPMorgan Chase & Co. cut their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Truist Financial began coverage on Iron Mountain in a report on Tuesday. They issued a “buy” rating and a $95.00 price target for the company. Finally, StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday. One research 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. Based on data from MarketBeat, Iron Mountain has an average rating of “Buy” and a consensus target price of $121.29.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, 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 transaction of $15,759,174.16. Following the completion of the transaction, the chief executive officer now owns 237,402 shares in the company, valued at approximately $21,681,924.66. This represents a 42.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total transaction of $5,952,353.75. The disclosure for this sale can be found here. Insiders sold a total of 318,973 shares of company stock valued at $29,370,872 in the last ninety days. Insiders own 2.10% of the company’s stock.

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.