Apollon Wealth Management LLC Has $1.42 Million Stock Holdings in Iron Mountain Incorporated $IRM

Apollon Wealth Management LLC lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,795 shares of the financial services provider’s stock after buying an additional 217 shares during the period. Apollon Wealth Management LLC’s holdings in Iron Mountain were worth $1,415,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of IRM. Financial Network Wealth Advisors LLC bought a new stake in shares of Iron Mountain in the 1st quarter valued at about $26,000. Golden State Wealth Management LLC bought a new stake in shares of Iron Mountain in the 1st quarter valued at about $30,000. Ramirez Asset Management Inc. bought a new stake in shares of Iron Mountain in the 1st quarter valued at about $34,000. Wayfinding Financial LLC bought a new stake in shares of Iron Mountain in the 1st quarter valued at about $37,000. Finally, Crewe Advisors LLC raised its holdings in shares of Iron Mountain by 10,000.0% in the 1st quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 500 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total transaction of $546,300.00. Following the sale, the executive vice president owned 79,081 shares in the company, valued at approximately $7,200,325.05. This trade represents a 7.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,375 shares of company stock worth $20,347,156. Corporate insiders own 1.90% of the company’s stock.

Iron Mountain Stock Up 0.5%

Shares of NYSE:IRM opened at $102.31 on Tuesday. The company’s 50 day moving average price is $96.64 and its two-hundred day moving average price is $95.63. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The firm has a market cap of $30.22 billion, a PE ratio of 730.84 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last announced its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 EPS. On average, research analysts expect 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 was paid on Friday, October 3rd. Investors 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 annualized dividend and a dividend yield of 3.1%. Iron Mountain’s dividend payout ratio (DPR) is currently 2,242.86%.

Wall Street Analyst Weigh In

IRM has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price target on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Barclays increased their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Finally, Jefferies Financial Group assumed coverage on shares of Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $116.83.

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.