Truvestments Capital LLC Purchases 143 Shares of Iron Mountain Incorporated (NYSE:IRM)

Truvestments Capital LLC raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,416 shares of the financial services provider’s stock after purchasing an additional 143 shares during the period. Truvestments Capital LLC’s holdings in Iron Mountain were worth $1,515,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. CWA Asset Management Group LLC acquired a new stake in shares of Iron Mountain in the 3rd quarter valued at about $240,000. Assetmark Inc. grew its stake in Iron Mountain by 12.8% in the 3rd quarter. Assetmark Inc. now owns 48,535 shares of the financial services provider’s stock valued at $5,767,000 after buying an additional 5,502 shares in the last quarter. Axxcess Wealth Management LLC grew its position in shares of Iron Mountain by 13.5% during the 3rd quarter. Axxcess Wealth Management LLC now owns 13,205 shares of the financial services provider’s stock valued at $1,569,000 after purchasing an additional 1,566 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Iron Mountain during the 3rd quarter valued at $31,000. Finally, Nations Financial Group Inc. IA ADV lifted its holdings in shares of Iron Mountain by 82.4% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 6,200 shares of the financial services provider’s stock worth $737,000 after acquiring an additional 2,801 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction dated 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 sale, the chief executive officer now directly owns 237,402 shares in the company, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,242 shares of company stock worth $31,530,305. Insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

NYSE:IRM opened at $84.70 on Wednesday. The firm has a market capitalization of $24.88 billion, a P/E ratio of 138.86, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24. The company’s fifty day moving average price is $99.43 and its 200-day moving average price is $110.61.

Iron Mountain (NYSE:IRM) last posted 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 company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period in the previous year, the business earned $0.52 earnings per share. Equities analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a dividend of $0.785 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Analyst Upgrades and Downgrades

IRM has been the subject of several recent analyst reports. Wells Fargo & Company lowered their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. decreased their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Royal Bank of Canada raised their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Barclays dropped their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Iron Mountain has an average rating of “Buy” and an average price target of $127.67.

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.