B. Riley Wealth Advisors Inc. Cuts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

B. Riley Wealth Advisors Inc. lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 31.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,640 shares of the financial services provider's stock after selling 4,854 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Iron Mountain were worth $1,126,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Key Financial Inc increased its stake 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 buying an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC purchased 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 during the fourth quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. boosted its position in Iron Mountain by 46.4% during the fourth 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 in the last quarter. Finally, Parkworth Wealth Management Inc. bought a new stake in Iron Mountain during the fourth quarter valued at about $53,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Up 0.8%

Shares of NYSE:IRM traded up $0.83 during trading on Friday, hitting $98.63. The stock had a trading volume of 4,731,334 shares, compared to its average volume of 1,867,659. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The stock has a market capitalization of $29.10 billion, a price-to-earnings ratio of 161.69, a price-to-earnings-growth ratio of 5.15 and a beta of 1.08. The stock has a 50-day simple moving average of $89.88 and a two-hundred day simple moving average of $98.76.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data 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. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. During the same period last year, the business posted $1.10 earnings per share. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be given a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's dividend payout ratio is currently 765.85%.

Wall Street Analyst Weigh In

IRM has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Truist Financial initiated coverage on Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. Wall Street Zen raised Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Barclays raised their price objective on Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research report on Tuesday. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $121.71.

Insider Activity at Iron Mountain

In related news, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The stock was 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 directly owns 288 shares in the company, valued at approximately $26,737.92. This trade 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 that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the transaction, the executive vice president now owns 13,054 shares of the company's stock, 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. Over the last ninety days, insiders sold 327,371 shares of company stock worth $29,919,729. 2.10% of the stock is owned by corporate 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.