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

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 23.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,874 shares of the financial services provider's stock after buying an additional 9,937 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Iron Mountain were worth $5,453,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Blue Trust Inc. increased its stake in shares of Iron Mountain by 32.2% in the 4th quarter. Blue Trust Inc. now owns 2,826 shares of the financial services provider's stock worth $297,000 after purchasing an additional 688 shares in the last quarter. Caprock Group LLC grew its holdings in Iron Mountain by 49.7% during the fourth quarter. Caprock Group LLC now owns 7,560 shares of the financial services provider's stock valued at $800,000 after purchasing an additional 2,511 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in Iron Mountain by 36.6% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,341 shares of the financial services provider's stock worth $1,087,000 after buying an additional 2,768 shares in the last quarter. DAVENPORT & Co LLC increased its position in Iron Mountain by 3.0% in the fourth quarter. DAVENPORT & Co LLC now owns 25,466 shares of the financial services provider's stock worth $2,676,000 after buying an additional 735 shares in the last quarter. Finally, Spire Wealth Management raised its stake in shares of Iron Mountain by 17.6% in the fourth quarter. Spire Wealth Management now owns 15,374 shares of the financial services provider's stock worth $1,616,000 after buying an additional 2,305 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Trading Up 0.3%

NYSE:IRM traded up $0.33 during midday trading on Wednesday, hitting $100.29. 1,283,862 shares of the company traded hands, compared to its average volume of 1,861,620. The firm has a market capitalization of $29.59 billion, a P/E ratio of 164.41, a P/E/G ratio of 5.15 and a beta of 1.09. The firm's fifty day moving average is $90.42 and its 200-day moving average is $98.44. 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 posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share 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 analysts' expectations of $1.59 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business's revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 earnings per share. On average, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently declared 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 3.13%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's payout ratio is presently 765.85%.

Analysts Set New Price Targets

IRM has been the subject of a number of recent research reports. Wall Street Zen upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Barclays upped their price target on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. JPMorgan Chase & Co. reduced their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. Truist Financial began coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price on the stock. Finally, Wells Fargo & Company decreased their target price 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. One equities research 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, the stock currently has an average rating of "Buy" and a consensus price target of $121.71.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $98.77, for a total value of $6,827,476.25. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Greg W. Mcintosh sold 8,398 shares of Iron Mountain stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total transaction of $807,383.72. Following the sale, the executive vice president now directly owns 70,114 shares of the company's stock, valued at $6,740,759.96. This represents a 10.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 215,773 shares of company stock valued at $20,229,435 in the last 90 days. Company insiders own 1.90% of the company's stock.

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.