Wealthfront Advisers LLC Buys 3,385 Shares of Iron Mountain Incorporated (NYSE:IRM)

Wealthfront Advisers LLC increased its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 75,781 shares of the financial services provider's stock after buying an additional 3,385 shares during the period. Wealthfront Advisers LLC's holdings in Iron Mountain were worth $6,520,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Northern Trust Corp boosted its stake 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 purchasing an additional 1,554,746 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Iron Mountain by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider's stock valued at $443,476,000 after buying an additional 15,097 shares during the last quarter. Norges Bank bought a new stake in shares of Iron Mountain during the fourth quarter valued at approximately $348,249,000. Nuveen Asset Management LLC raised its holdings in shares of Iron Mountain by 39.0% during the fourth 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 last quarter. Finally, Invesco Ltd. raised its holdings in shares of Iron Mountain by 17.2% during the fourth quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider's stock valued at $260,969,000 after buying an additional 363,783 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Trading Up 1.0%

IRM stock traded up $0.98 on Friday, hitting $99.67. 865,519 shares of the company's stock traded hands, compared to its average volume of 1,776,550. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The stock has a market cap of $29.41 billion, a price-to-earnings ratio of 243.10 and a beta of 1.08. The stock has a fifty day moving average of $99.98 and a 200-day moving average of $95.61.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS 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 the consensus estimate of $1.59 billion. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. The firm's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.10 EPS. On average, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 16th were given a $0.785 dividend. The ex-dividend date was Monday, June 16th. This represents a $3.14 annualized dividend and a dividend yield of 3.15%. Iron Mountain's dividend payout ratio (DPR) is presently 765.85%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IRM. 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 note on Tuesday, May 27th. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Truist Financial began coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price target for the company. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $121.71.

Insider Activity

In other Iron Mountain news, Director Walter C. Rakowich sold 900 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total value of $89,973.00. Following the transaction, the director owned 36,515 shares in the company, valued at approximately $3,650,404.55. This represents a 2.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $102.02, for a total transaction of $612,120.00. Following the completion of the transaction, the executive vice president owned 91,081 shares in the company, valued at approximately $9,292,083.62. This represents a 6.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 240,007 shares of company stock worth $23,649,959 in the last quarter. 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.