Centerpoint Advisory Group Invests $272,000 in Iron Mountain Incorporated (NYSE:IRM)

Centerpoint Advisory Group purchased a new stake in Iron Mountain Incorporated (NYSE:IRM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,585 shares of the financial services provider’s stock, valued at approximately $272,000.

Several other large investors have also recently bought and sold shares of the stock. Exchange Traded Concepts LLC increased its stake in shares of Iron Mountain by 4,950.0% during the third quarter. Exchange Traded Concepts LLC now owns 3,636 shares of the financial services provider’s stock worth $432,000 after purchasing an additional 3,564 shares during the period. Creative Planning grew its holdings in Iron Mountain by 2.2% in the 3rd quarter. Creative Planning now owns 98,905 shares of the financial services provider’s stock valued at $11,753,000 after buying an additional 2,083 shares in the last quarter. Vontobel Holding Ltd. bought a new position in Iron Mountain during the 3rd quarter worth $535,000. Good Life Advisors LLC lifted its holdings in shares of Iron Mountain by 58.9% during the third quarter. Good Life Advisors LLC now owns 3,646 shares of the financial services provider’s stock worth $433,000 after buying an additional 1,352 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its position in shares of Iron Mountain by 45.8% in the third quarter. Bleakley Financial Group LLC now owns 22,987 shares of the financial services provider’s stock valued at $2,732,000 after acquiring an additional 7,221 shares during the period. 80.13% of the stock is owned by institutional investors.

Insider Activity at Iron Mountain

In other news, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,131 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. Insiders have sold a total of 162,391 shares of company stock valued at $16,805,912 in the last 90 days. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. 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 note on Wednesday, November 27th. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Finally, Barclays decreased their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.17.

Iron Mountain Stock Up 0.1 %

NYSE:IRM opened at $95.34 on Friday. Iron Mountain Incorporated has a twelve month low of $67.09 and a twelve month high of $130.24. The stock’s 50-day simple moving average is $105.45 and its 200 day simple moving average is $112.78. The firm has a market capitalization of $27.98 billion, a PE ratio of 264.85, a price-to-earnings-growth ratio of 5.84 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a net margin of 1.77% and a negative return on equity of 44,660.04%. During the same quarter in the previous year, the business posted $0.52 earnings per share. On average, analysts anticipate that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.29%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio is presently 794.47%.

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.