J.W. Cole Advisors Inc. Raises Stake in Iron Mountain Incorporated (NYSE:IRM)

J.W. Cole Advisors Inc. boosted its position in Iron Mountain Incorporated (NYSE:IRM) by 4.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,744 shares of the financial services provider’s stock after purchasing an additional 315 shares during the period. J.W. Cole Advisors Inc.’s holdings in Iron Mountain were worth $472,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of IRM. CWM LLC boosted its position in Iron Mountain by 22.4% in the third quarter. CWM LLC now owns 5,862 shares of the financial services provider’s stock valued at $348,000 after buying an additional 1,071 shares during the last quarter. HB Wealth Management LLC boosted its position in Iron Mountain by 27.3% in the 3rd quarter. HB Wealth Management LLC now owns 6,416 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 1,374 shares in the last quarter. Flagship Harbor Advisors LLC boosted its position in Iron Mountain by 4.4% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 6,675 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 280 shares in the last quarter. Impact Partnership Wealth LLC purchased a new stake in Iron Mountain in the 3rd quarter worth approximately $129,000. Finally, 1900 Wealth Management LLC purchased a new stake in Iron Mountain in the 3rd quarter worth approximately $261,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 1.0 %

NYSE IRM opened at $76.60 on Wednesday. The business has a fifty day moving average price of $76.89 and a 200 day moving average price of $69.04. Iron Mountain Incorporated has a one year low of $52.81 and a one year high of $82.19. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $22.45 billion, a P/E ratio of 121.59, a P/E/G ratio of 4.56 and a beta of 0.94.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the company posted $0.98 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. Research analysts anticipate that Iron Mountain Incorporated will post 4.16 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 412.70%.

Analysts Set New Price Targets

Several research firms have commented on IRM. Wells Fargo & Company upped their price objective on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Stifel Nicolaus increased their target price on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Barclays increased their target price on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Finally, TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.80.

Insiders Place Their Bets

In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total value of $134,860.00. Following the completion of the sale, the executive vice president now directly owns 48,026 shares of the company’s stock, valued at approximately $3,238,393.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $67.43, for a total transaction of $134,860.00. Following the completion of the sale, the executive vice president now directly owns 48,026 shares of the company’s stock, valued at approximately $3,238,393.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $68.24, for a total value of $1,083,310.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $20,175,156. The disclosure for this sale can be found here. Insiders sold 164,124 shares of company stock valued at $12,698,221 in the last three months. 2.20% of the stock is currently owned by insiders.

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.