Iron Mountain Incorporated (NYSE:IRM) Shares Bought by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. raised its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 65.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,363 shares of the financial services provider's stock after acquiring an additional 5,684 shares during the quarter. J.W. Cole Advisors Inc.'s holdings in Iron Mountain were worth $1,236,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Iron Mountain in the 4th quarter valued at about $348,249,000. Northern Trust Corp boosted its stake in shares of Iron Mountain by 56.1% in the 4th quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock valued at $454,756,000 after buying an additional 1,554,746 shares during the period. TD Asset Management Inc. boosted its stake in shares of Iron Mountain by 125.4% in the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock valued at $205,220,000 after buying an additional 1,086,308 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Iron Mountain by 439.8% in the 4th quarter. Point72 Asset Management L.P. now owns 1,200,660 shares of the financial services provider's stock valued at $126,201,000 after buying an additional 978,251 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in shares of Iron Mountain by 39.0% in the 4th quarter. Nuveen Asset Management LLC now owns 2,548,970 shares of the financial services provider's stock valued at $267,922,000 after buying an additional 715,024 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Walter C. Rakowich sold 900 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total transaction of $89,973.00. Following the transaction, the director owned 36,515 shares of the company's stock, valued at $3,650,404.55. This represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Greg W. Mcintosh sold 17,334 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $100.00, for a total value of $1,733,400.00. Following the transaction, the executive vice president directly owned 35,446 shares in the company, valued at $3,544,600. This represents a 32.84% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 240,007 shares of company stock worth $23,649,959. 1.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

IRM has been the subject of several recent analyst reports. Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Barclays boosted their target price on Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Finally, Truist Financial initiated coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 target price for the company. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $121.71.

Iron Mountain Price Performance

Shares of IRM stock traded up $0.50 during midday trading on Friday, hitting $99.27. The company had a trading volume of 654,672 shares, compared to its average volume of 1,399,010. The stock has a market cap of $29.29 billion, a price-to-earnings ratio of 242.11 and a beta of 1.08. The company's 50 day simple moving average is $100.04 and its 200 day simple moving average is $95.45. 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 released its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 earnings per share. Analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th were issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Monday, June 16th. Iron Mountain's payout ratio is currently 765.85%.

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.