Cetera Investment Advisers Grows Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Key Points

• Cetera Investment Advisers has increased its holdings in Iron Mountain Incorporated by 10.3%, now owning a total of 168,743 shares valued at approximately $14.5 million.
• Insider trading activities indicate significant sales, with CEO William L. Meaney selling 69,125 shares and EVP Mark Kidd selling 6,000 shares, reflecting decreases in their respective ownership stakes.
• Iron Mountain recently declared a quarterly dividend of $0.785 per share, resulting in an annualized yield of 3.16%, amidst a high dividend payout ratio of 765.85%.

Cetera Investment Advisers increased its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 10.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 168,743 shares of the financial services provider's stock after buying an additional 15,708 shares during the quarter. Cetera Investment Advisers owned about 0.06% of Iron Mountain worth $14,519,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Cranbrook Wealth Management LLC bought a new stake in Iron Mountain during the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC bought a new stake in Iron Mountain during the 1st quarter worth approximately $30,000. Wayfinding Financial LLC bought a new stake in Iron Mountain during the 1st quarter worth approximately $37,000. Franchise Capital Ltd bought a new stake in Iron Mountain during the 1st quarter worth approximately $39,000. Finally, Crewe Advisors LLC increased its holdings in Iron Mountain by 10,000.0% during the 1st quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider's stock worth $43,000 after purchasing an additional 500 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Price Performance

Shares of NYSE:IRM traded down $3.28 during trading on Friday, hitting $94.08. 1,500,940 shares of the company were exchanged, compared to its average volume of 968,117. The company has a market cap of $27.76 billion, a PE ratio of 229.46 and a beta of 1.07. The stock has a 50 day moving average of $99.98 and a 200 day moving average of $95.32. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.01. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The business's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.10 earnings per share. Sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $102.02, for a total value of $612,120.00. Following the sale, the executive vice president owned 91,081 shares in the company, valued at approximately $9,292,083.62. This trade represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Walter C. Rakowich sold 900 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total value of $89,973.00. Following the completion of the sale, the director owned 36,515 shares in the company, valued at $3,650,404.55. This trade represents a 2.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 170,882 shares of company stock worth $17,007,738. 1.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Truist Financial assumed coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price for the company. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Finally, Barclays upped their target price on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $121.71.

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.