Wealth Enhancement Advisory Services LLC Reduces Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Wealth Enhancement Advisory Services LLC decreased its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,086 shares of the financial services provider's stock after selling 2,788 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Iron Mountain were worth $4,223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealthfront Advisers LLC raised its position in shares of Iron Mountain by 9,843.3% in the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after purchasing an additional 6,795,792 shares during the period. Norges Bank purchased a new position in Iron Mountain in the 4th quarter valued at approximately $348,249,000. Northern Trust Corp raised its holdings in Iron Mountain by 56.1% during 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 acquiring an additional 1,554,746 shares during the period. TD Asset Management Inc. lifted its position in shares of Iron Mountain by 125.4% during the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider's stock worth $205,220,000 after acquiring an additional 1,086,308 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Iron Mountain by 439.8% in the fourth quarter. Point72 Asset Management L.P. now owns 1,200,660 shares of the financial services provider's stock worth $126,201,000 after acquiring an additional 978,251 shares during the period. 80.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on IRM. Truist Financial assumed coverage on Iron Mountain in a research note on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. Wall Street Zen upgraded 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 shares of Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Iron Mountain currently has a consensus rating of "Buy" and a consensus target price of $121.71.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total transaction of $5,952,353.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Walter C. Rakowich sold 900 shares of Iron Mountain stock in a transaction dated 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 in the company, valued at approximately $3,650,404.55. This represents a 2.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 216,673 shares of company stock worth $20,319,408 over the last ninety days. Insiders own 1.90% of the company's stock.

Iron Mountain Trading Up 1.4%

Shares of NYSE:IRM traded up $1.44 during trading on Friday, reaching $102.35. The company had a trading volume of 5,698,153 shares, compared to its average volume of 1,796,438. The company has a fifty day moving average of $96.99 and a two-hundred day moving average of $96.51. The stock has a market capitalization of $30.20 billion, a P/E ratio of 249.62 and a beta of 1.09. 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 earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The business had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter in the prior year, the firm earned $1.10 earnings per share. The firm's revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be paid a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's dividend payout ratio is currently 765.85%.

About Iron Mountain

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.