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

Wealthfront Advisers LLC grew its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,781 shares of the financial services provider's stock after purchasing 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 SEC filing.

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC raised its holdings in shares of Iron Mountain by 3.6% during the fourth quarter. Signaturefd LLC now owns 6,241 shares of the financial services provider's stock worth $656,000 after acquiring an additional 215 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Iron Mountain by 39.4% during the fourth quarter. Axxcess Wealth Management LLC now owns 18,413 shares of the financial services provider's stock worth $1,935,000 after acquiring an additional 5,208 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Iron Mountain by 65.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 113,596 shares of the financial services provider's stock worth $12,197,000 after acquiring an additional 44,911 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Iron Mountain by 3.8% during the fourth quarter. Advisors Asset Management Inc. now owns 65,760 shares of the financial services provider's stock worth $6,912,000 after acquiring an additional 2,384 shares in the last quarter. Finally, Xponance Inc. raised its holdings in shares of Iron Mountain by 2.9% during the fourth quarter. Xponance Inc. now owns 98,398 shares of the financial services provider's stock worth $10,343,000 after acquiring an additional 2,735 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Iron Mountain Stock Performance

Shares of NYSE:IRM traded up $0.98 during midday trading on Friday, hitting $99.67. The company's stock had a trading volume of 855,189 shares, compared to its average volume of 1,902,717. The stock has a market capitalization of $29.41 billion, a price-to-earnings ratio of 243.10 and a beta of 1.08. The stock's 50 day simple moving average is $99.93 and its 200 day simple moving average is $95.71. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.01. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The firm's revenue was up 7.9% compared to the same quarter last year. During the same period last year, the business posted $1.10 earnings per share. As a group, analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total value of $6,937,385.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Walter C. Rakowich sold 900 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $99.97, for a total transaction of $89,973.00. Following the completion of the sale, the director owned 36,515 shares of the company's stock, valued at approximately $3,650,404.55. The trade was a 2.41% 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 valued at $23,649,959. 1.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IRM. Truist Financial began coverage on Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective for the company. Wall Street Zen raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Barclays increased their target price 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. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $121.71.

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.