Ameliora Wealth Management Ltd. Boosts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Ameliora Wealth Management Ltd. grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 3,250.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,350 shares of the financial services provider's stock after buying an additional 3,250 shares during the period. Ameliora Wealth Management Ltd.'s holdings in Iron Mountain were worth $288,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Key Financial Inc lifted its position in shares of Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after buying an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC bought a new stake in Iron Mountain during the 4th quarter valued at approximately $26,000. IMG Wealth Management Inc. bought a new stake in Iron Mountain during the 4th quarter valued at approximately $26,000. Cranbrook Wealth Management LLC bought a new stake in Iron Mountain during the 1st quarter valued at approximately $26,000. Finally, Franchise Capital Ltd bought a new stake in Iron Mountain during the 1st quarter valued at approximately $39,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Walter C. Rakowich sold 900 shares of Iron Mountain stock in a transaction that occurred 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 transaction, the director now owns 36,515 shares of the company's stock, valued at approximately $3,650,404.55. This trade represents a 2.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 216,673 shares of company stock worth $20,319,408. 1.90% of the stock is currently owned by company insiders.

Iron Mountain Stock Down 1.0%

NYSE IRM traded down $1.01 during trading on Friday, hitting $101.50. 979,247 shares of the stock traded hands, compared to its average volume of 1,849,525. The company has a market capitalization of $29.95 billion, a P/E ratio of 166.39, a price-to-earnings-growth ratio of 5.15 and a beta of 1.09. The firm has a 50-day simple moving average of $93.42 and a 200-day simple moving average of $97.63. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24.

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

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is 765.85%.

Analysts Set New Price Targets

Several analysts recently issued reports on IRM shares. Barclays lifted their target price on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Truist Financial started coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price on the stock. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Finally, JPMorgan Chase & Co. decreased their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 18th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target 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.