Wealthfront Advisers LLC Raises Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Wealthfront Advisers LLC boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 9,843.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,864,832 shares of the financial services provider’s stock after purchasing an additional 6,795,792 shares during the quarter. Iron Mountain comprises about 0.6% of Wealthfront Advisers LLC’s portfolio, making the stock its 27th biggest position. Wealthfront Advisers LLC owned 2.34% of Iron Mountain worth $721,562,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Key Financial Inc boosted its position in Iron Mountain by 25,100.0% during 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 stake in Iron Mountain during the 4th quarter valued at $26,000. Ashton Thomas Securities LLC bought a new stake in Iron Mountain during the 3rd quarter valued at $31,000. Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain during the 3rd quarter valued at $36,000. Finally, Dunhill Financial LLC boosted its position in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 152 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

NYSE IRM opened at $83.26 on Tuesday. The stock has a 50-day simple moving average of $99.84 and a two-hundred day simple moving average of $110.82. The firm has a market capitalization of $24.46 billion, a P/E ratio of 136.48, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two 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 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations 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 previous year, the business posted $0.52 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be paid a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is currently 514.75%.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,872 shares of Iron Mountain 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,211,933.36. This represents a 11.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 343,114 shares of company stock worth $33,323,682 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

IRM has been the subject of a number of recent analyst reports. 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. Royal Bank of Canada raised their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company lowered their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Barclays reduced their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price 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.