Investor s Fiduciary Advisor Network LLC Invests $3.64 Million in Iron Mountain Incorporated (NYSE:IRM)

Investor s Fiduciary Advisor Network LLC purchased a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 34,675 shares of the financial services provider's stock, valued at approximately $3,644,000. Iron Mountain accounts for about 1.4% of Investor s Fiduciary Advisor Network LLC's investment portfolio, making the stock its 14th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Merit Financial Group LLC increased its position in shares of Iron Mountain by 91.5% during the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider's stock worth $1,570,000 after acquiring an additional 7,137 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider's stock worth $961,000 after purchasing an additional 5,511 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Iron Mountain in the fourth quarter worth approximately $102,000. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Iron Mountain by 1,453.1% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 113,002 shares of the financial services provider's stock valued at $11,878,000 after purchasing an additional 105,726 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Iron Mountain by 36.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,341 shares of the financial services provider's stock valued at $1,087,000 after buying an additional 2,768 shares during the last quarter. Institutional investors own 80.13% of the company's stock.

Iron Mountain Trading Up 0.4 %

NYSE:IRM opened at $97.08 on Friday. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The firm's 50 day moving average is $86.50 and its 200 day moving average is $101.14. The stock has a market capitalization of $28.64 billion, a PE ratio of 159.15, a price-to-earnings-growth ratio of 5.15 and a beta of 1.08.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its 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 firm 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 401.83% and a net margin of 2.95%. The business's revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.10 earnings per share. Research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Monday, June 16th will be issued a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is presently 765.85%.

Wall Street Analyst Weigh In

A number of research firms recently commented on IRM. Barclays dropped their price objective on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. Truist Financial initiated coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price target on the stock. Wells Fargo & Company reduced their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Finally, StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. One research 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. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $121.29.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the transaction, the chief executive officer now owns 237,402 shares in the company, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 318,973 shares of company stock worth $29,112,345. Corporate insiders own 2.10% 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.

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