Iron Mountain Incorporated (NYSE:IRM) is Foresight Capital Management Advisors Inc.’s 2nd Largest Position

Foresight Capital Management Advisors Inc. grew its position in Iron Mountain Incorporated (NYSE:IRM) by 1.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 88,185 shares of the financial services provider’s stock after buying an additional 882 shares during the period. Iron Mountain makes up about 4.7% of Foresight Capital Management Advisors Inc.’s investment portfolio, making the stock its 2nd largest holding. Foresight Capital Management Advisors Inc.’s holdings in Iron Mountain were worth $7,587,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Proficio Capital Partners LLC purchased a new position in Iron Mountain in the fourth quarter worth about $102,000. Strategic Financial Concepts LLC raised its holdings in shares of Iron Mountain by 10,432.5% during the fourth quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 240,261 shares during the last quarter. Ensign Peak Advisors Inc raised its holdings in shares of Iron Mountain by 3.5% during the fourth quarter. Ensign Peak Advisors Inc now owns 232,200 shares of the financial services provider’s stock valued at $24,407,000 after purchasing an additional 7,759 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Iron Mountain by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 55,571 shares of the financial services provider’s stock valued at $5,841,000 after purchasing an additional 5,150 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its holdings in shares of Iron Mountain by 3.7% during the fourth quarter. Vontobel Holding Ltd. now owns 4,668 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 168 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Iron Mountain news, Director Walter C. Rakowich sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total value of $89,973.00. Following the completion of the transaction, the director now directly owns 36,515 shares in the company, valued at $3,650,404.55. This represents a 2.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the company’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. Insiders sold a total of 216,673 shares of company stock worth $20,319,408 over the last three months. 1.90% of the stock is currently owned by company insiders.

Iron Mountain Trading Down 0.2%

Shares of NYSE IRM opened at $101.03 on Wednesday. The firm has a 50 day moving average of $91.95 and a 200 day moving average of $97.88. The firm has a market capitalization of $29.81 billion, a price-to-earnings ratio of 165.62, a price-to-earnings-growth ratio of 5.15 and a beta of 1.09. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.01. The company had revenue of $1.59 billion during 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 quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.10 earnings per share. Sell-side analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be given a $0.785 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.11%. Iron Mountain’s payout ratio is currently 765.85%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on IRM shares. Truist Financial started coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They set a “buy” rating and a $95.00 price objective for the company. Wall Street Zen raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday, April 18th. JPMorgan Chase & Co. decreased their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Finally, Barclays boosted their target price on shares of Iron Mountain from $118.00 to $121.00 and gave the company an “overweight” rating in a research report on Tuesday, May 27th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $121.71.

About Iron Mountain

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.