Onyx Bridge Wealth Group LLC Trims Position in Iron Mountain Incorporated $IRM

Onyx Bridge Wealth Group LLC decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 15.2% during the second quarter, according to its most recent filing with the SEC. 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 reporting period.

A number of other institutional investors have also added to or reduced their stakes in IRM. Blue Trust Inc. increased its position in Iron Mountain by 154.9% during the 1st quarter. Blue Trust Inc. now owns 1,017 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 618 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Iron Mountain during the 1st quarter valued at about $728,000. Golden State Wealth Management LLC purchased a new position in Iron Mountain during the 1st quarter valued at about $30,000. Sequoia Financial Advisors LLC increased its position in Iron Mountain by 7.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 8,873 shares of the financial services provider’s stock valued at $763,000 after purchasing an additional 580 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in Iron Mountain by 5.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 20,206 shares of the financial services provider’s stock valued at $1,739,000 after purchasing an additional 1,039 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Down 0.5%

IRM stock opened at $103.90 on Thursday. The firm has a 50 day moving average of $98.43 and a 200 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 52 week low of $72.33 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM) last released its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 EPS 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%. Iron Mountain’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the business earned $1.08 EPS. On average, equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were paid a $0.785 dividend. 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 (DPR) is 2,242.86%.

Insider Buying and Selling

In related news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total value of $546,300.00. Following the completion of the sale, the executive vice president directly owned 79,081 shares in the company, valued at $7,200,325.05. This trade represents a 7.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain 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. Insiders sold 213,375 shares of company stock worth $20,347,156 in the last three months. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Barclays lifted their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Jefferies Financial Group initiated coverage on shares of Iron Mountain in a research report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Finally, Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $116.83.

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.