Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 173.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,299 shares of the financial services provider’s stock after acquiring an additional 8,434 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Iron Mountain were worth $1,192,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in IRM. Cohen & Steers Inc. raised its position in shares of Iron Mountain by 202.1% during the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after acquiring an additional 15,035,937 shares in the last quarter. Norges Bank acquired a new stake in shares of Iron Mountain during the 4th quarter valued at approximately $228,391,000. Daiwa Securities Group Inc. increased its position in Iron Mountain by 60.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after buying an additional 1,546,592 shares during the period. Centersquare Investment Management LLC increased its position in Iron Mountain by 7,892.6% in the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after buying an additional 1,519,237 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Iron Mountain by 59.1% in the fourth quarter. Russell Investments Group Ltd. now owns 2,081,786 shares of the financial services provider’s stock worth $145,879,000 after buying an additional 772,988 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of NYSE:IRM traded down $0.89 on Wednesday, hitting $105.56. The company’s stock had a trading volume of 1,933,550 shares, compared to its average volume of 1,674,717. Iron Mountain Incorporated has a 12 month low of $56.51 and a 12 month high of $112.79. The company has a market capitalization of $30.94 billion, a price-to-earnings ratio of 161.70, a price-to-earnings-growth ratio of 6.49 and a beta of 0.98. The stock’s 50-day moving average is $92.47 and its two-hundred day moving average is $81.74. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.79.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the company posted $0.94 EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.22 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be paid a dividend of $0.715 per share. The ex-dividend date is Monday, September 16th. This represents a $2.86 annualized dividend and a yield of 2.71%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is currently 433.33%.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $81.03, for a total transaction of $1,286,351.25. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $23,956,519.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $81.03, for a total transaction of $1,286,351.25. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $23,956,519.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Daniel Borges sold 3,095 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $86.83, for a total value of $268,738.85. The disclosure for this sale can be found here. Insiders sold 96,372 shares of company stock valued at $8,516,435 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on IRM. Stifel Nicolaus increased their target price on Iron Mountain from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company increased their target price on Iron Mountain from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group increased their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their target price on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus price target of $95.29.

Iron Mountain Company 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.