Wedbush Securities Inc. Has $844,000 Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Wedbush Securities Inc. increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 8,031 shares of the financial services provider’s stock after buying an additional 192 shares during the period. Wedbush Securities Inc.’s holdings in Iron Mountain were worth $844,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Merit Financial Group LLC lifted 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 purchasing an additional 7,137 shares in the last quarter. Tidal Investments LLC lifted its holdings in Iron Mountain by 254.1% during the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after buying an additional 14,737 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in Iron Mountain by 151.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock valued at $961,000 after buying an additional 5,511 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Iron Mountain during the fourth quarter worth $102,000. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Iron Mountain during the third quarter worth $24,122,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total value of $5,952,353.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mithu Bhargava sold 1,738 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were 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 $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 318,973 shares of company stock valued at $29,370,872. 2.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on IRM. JPMorgan Chase & Co. lowered their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Barclays dropped their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Wells Fargo & Company cut their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $125.67.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $77.42 on Tuesday. The company has a 50 day moving average price of $91.82 and a two-hundred day moving average price of $106.91. The company has a market capitalization of $22.74 billion, a PE ratio of 126.91, a PEG ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data 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 firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter in the prior year, the company earned $0.52 EPS. On average, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were given a $0.785 dividend. The ex-dividend date was Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 4.06%. Iron Mountain’s payout ratio is currently 514.75%.

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.