4,017 Shares in Iron Mountain Incorporated (NYSE:IRM) Acquired by Axis Wealth Partners LLC

Axis Wealth Partners LLC bought a new stake in Iron Mountain Incorporated (NYSE:IRM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,017 shares of the financial services provider’s stock, valued at approximately $422,000.

Several other large investors also recently added to or reduced their stakes in the business. Key Financial Inc raised its stake in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in shares of Iron Mountain in the fourth quarter valued at approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain in the third quarter worth $31,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Iron Mountain during the 3rd quarter worth $36,000. Finally, Dunhill Financial LLC raised its holdings in Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 152 shares during the period. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Performance

Shares of IRM stock opened at $84.21 on Friday. The firm has a fifty day moving average of $100.25 and a 200-day moving average of $111.03. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24. The stock has a market cap of $24.74 billion, a price-to-earnings ratio of 138.05, a P/E/G ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter in the prior year, the business earned $0.52 EPS. On average, sell-side analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.73%. Iron Mountain’s dividend payout ratio is 514.75%.

Insider Activity at Iron Mountain

In related news, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the sale, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 15,872 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. Insiders sold 343,114 shares of company stock valued at $33,323,682 over the last ninety days. 2.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

IRM has been the subject of a number of recent analyst reports. Barclays decreased their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Royal Bank of Canada upped their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. lowered their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company decreased their price target on shares of 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 research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $127.67.

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.