Investor s Fiduciary Advisor Network LLC Makes New Investment in Iron Mountain Incorporated (NYSE:IRM)

Investor s Fiduciary Advisor Network LLC acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 34,675 shares of the financial services provider’s stock, valued at approximately $3,644,000. Iron Mountain makes up about 1.4% of Investor s Fiduciary Advisor Network LLC’s investment portfolio, making the stock its 14th biggest position.

Other institutional investors also recently modified their holdings of the company. Merit Financial Group LLC grew its stake in Iron Mountain by 91.5% in the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after buying an additional 7,137 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after acquiring an additional 5,511 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Iron Mountain in the fourth quarter worth $102,000. U.S. Capital Wealth Advisors LLC increased its stake in Iron Mountain by 1,453.1% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 113,002 shares of the financial services provider’s stock valued at $11,878,000 after acquiring an additional 105,726 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in Iron Mountain by 36.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,341 shares of the financial services provider’s stock valued at $1,087,000 after purchasing an additional 2,768 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 172,552 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value 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 $21,681,924.66. This trade represents a 42.09 % decrease in their position. 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 on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total value 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 worth $29,112,345 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on IRM shares. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Barclays reduced their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Truist Financial assumed coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price objective for the company. Wells Fargo & Company reduced their target price 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. Finally, JPMorgan Chase & Co. lowered their price target 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. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $121.29.

Iron Mountain Stock Up 0.4 %

NYSE:IRM opened at $97.08 on Friday. The firm has a market capitalization of $28.64 billion, a P/E ratio of 159.15, a P/E/G ratio of 5.15 and a beta of 1.08. The company has a fifty day moving average of $86.50 and a 200 day moving average of $101.14. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.16 by $0.01. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the prior year, the firm posted $1.10 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be paid a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.14 annualized dividend and a dividend yield of 3.23%. Iron Mountain’s dividend payout ratio (DPR) is presently 765.85%.

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.