Arete Wealth Advisors LLC Buys 1,650 Shares of Iron Mountain Incorporated (NYSE:IRM)

Arete Wealth Advisors LLC increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 28.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,390 shares of the financial services provider’s stock after acquiring an additional 1,650 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Iron Mountain were worth $776,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Key Financial Inc boosted its holdings in shares of 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 purchasing an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC purchased a new position in Iron Mountain during the 4th quarter valued at approximately $26,000. IMG Wealth Management Inc. bought a new stake in Iron Mountain in the 4th quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new stake in shares of Iron Mountain during the 4th quarter worth approximately $53,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $77.31 on Friday. Iron Mountain Incorporated has a 1 year low of $73.53 and a 1 year high of $130.24. The firm has a 50-day simple moving average of $92.35 and a two-hundred day simple moving average of $107.29. The company has a market cap of $22.71 billion, a P/E ratio of 126.74, a PEG ratio of 5.15 and a beta of 0.97.

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

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were issued a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 4.06%. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Analyst Ratings Changes

Several brokerages recently weighed in on IRM. Wells Fargo & Company reduced 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. JPMorgan Chase & Co. decreased 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. StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday, March 31st. Finally, Barclays reduced 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. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.67.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 172,552 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 237,402 shares in the company, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. Insiders sold a total of 318,973 shares of company stock valued at $29,370,872 in the last three months. Company insiders own 2.10% of the company’s stock.

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.