Aptus Capital Advisors LLC Purchases 2,661 Shares of Iron Mountain Incorporated (NYSE:IRM)

Aptus Capital Advisors LLC grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 98.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,354 shares of the financial services provider's stock after purchasing an additional 2,661 shares during the quarter. Aptus Capital Advisors LLC's holdings in Iron Mountain were worth $564,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Key Financial Inc lifted its holdings in shares of Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in shares of Iron Mountain during the fourth quarter valued at $26,000. IMG Wealth Management Inc. purchased a new position in shares of Iron Mountain in the 4th quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. grew its position in Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. bought a new stake in Iron Mountain during the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on IRM. Wells Fargo & Company reduced their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Barclays dropped their price target on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. JPMorgan Chase & Co. lowered their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Truist Financial began coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $121.29.

Iron Mountain Stock Up 0.3 %

Shares of IRM opened at $97.18 on Thursday. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24. The stock has a market cap of $28.66 billion, a price-to-earnings ratio of 159.31, a PEG ratio of 5.15 and a beta of 1.08. The business has a 50-day simple moving average of $86.20 and a two-hundred day simple moving average of $101.68.

Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. The company had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.59 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm's revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.10 EPS. On average, equities analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

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

Insider Activity

In related news, CAO Daniel Borges sold 6,433 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares in the company, valued at approximately $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 318,973 shares of company stock worth $29,112,345 over the last ninety days. Corporate insiders own 2.10% of the company's stock.

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.

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