Iron Mountain Incorporated $IRM Shares Purchased by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,009 shares of the financial services provider’s stock after purchasing an additional 187 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Iron Mountain were worth $1,334,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Iron Mountain by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 46,825,734 shares of the financial services provider’s stock valued at $4,028,886,000 after acquiring an additional 220,564 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Iron Mountain by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 4,256,417 shares of the financial services provider’s stock valued at $366,210,000 after purchasing an additional 37,154 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Iron Mountain by 14.7% in the first quarter. Invesco Ltd. now owns 2,848,954 shares of the financial services provider’s stock valued at $245,124,000 after purchasing an additional 366,134 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Iron Mountain in the first quarter valued at approximately $192,231,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Iron Mountain by 17.8% in the first quarter. JPMorgan Chase & Co. now owns 2,061,560 shares of the financial services provider’s stock valued at $177,377,000 after purchasing an additional 311,494 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $105.87 on Wednesday. The company has a 50 day simple moving average of $96.02 and a 200-day simple moving average of $95.11. The company has a market capitalization of $31.27 billion, a P/E ratio of 756.30 and a beta of 1.06. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $130.24.

Iron Mountain (NYSE:IRM) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.05. Iron Mountain had a net margin of 0.66% and a negative return on equity of 146.80%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the firm earned $1.08 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 15th were issued a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.0%. The ex-dividend date was Monday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is 2,242.86%.

Insider Activity at Iron Mountain

In related news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total value of $546,300.00. Following the completion of the sale, the executive vice president owned 79,081 shares in the company, valued at approximately $7,200,325.05. This trade represents a 7.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 213,375 shares of company stock worth $20,347,156. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on IRM. Jefferies Financial Group began coverage on Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 price target for the company. Barclays increased their price target on Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a report on Saturday, September 27th. Finally, JPMorgan Chase & Co. cut their price target on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Iron Mountain has a consensus rating of “Buy” and a consensus target price of $116.83.

Iron Mountain 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.