Wealthcare Advisory Partners LLC Raises Position in Iron Mountain Incorporated $IRM

Wealthcare Advisory Partners LLC raised its holdings in Iron Mountain Incorporated (NYSE:IRM) by 1.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 13,009 shares of the financial services provider’s stock after acquiring an additional 187 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Iron Mountain were worth $1,334,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Network Wealth Advisors LLC purchased a new position in Iron Mountain in the 1st quarter valued at approximately $26,000. Golden State Wealth Management LLC purchased a new position in Iron Mountain in the 1st quarter valued at approximately $30,000. Ramirez Asset Management Inc. purchased a new stake in shares of Iron Mountain during the 1st quarter worth $34,000. Wayfinding Financial LLC purchased a new stake in shares of Iron Mountain during the 1st quarter worth $37,000. Finally, Richards Merrill & Peterson Inc. purchased a new stake in shares of Iron Mountain during the 1st quarter worth $43,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM opened at $105.87 on Wednesday. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The stock has a market cap of $31.27 billion, a PE ratio of 756.30 and a beta of 1.06. The firm has a fifty day moving average price of $96.02 and a 200 day moving average price of $95.11.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the company earned $1.08 earnings per share. Iron Mountain’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Shareholders 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 payout ratio is currently 2,242.86%.

Analyst Ratings Changes

IRM has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research report on Saturday, September 27th. Finally, Jefferies Financial Group initiated coverage on shares of Iron Mountain in a research report on Monday, September 22nd. They set a “buy” rating and a $120.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $116.83.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Friday, August 1st. The shares were sold at an average price of $94.55, for a total value of $6,535,768.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 213,375 shares of company stock worth $20,347,156. 1.90% of the stock is owned by company insiders.

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.