SRS Capital Advisors Inc. Boosts Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

SRS Capital Advisors Inc. grew its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 281.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 930 shares of the financial services provider’s stock after purchasing an additional 686 shares during the period. SRS Capital Advisors Inc.’s holdings in Iron Mountain were worth $98,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in IRM. Harbor Capital Advisors Inc. purchased a new stake in shares of Iron Mountain during the 3rd quarter valued at about $80,000. Van ECK Associates Corp increased its position in shares of Iron Mountain by 12.3% during the 3rd quarter. Van ECK Associates Corp now owns 50,421 shares of the financial services provider’s stock valued at $6,330,000 after purchasing an additional 5,534 shares during the last quarter. Avidian Wealth Enterprises LLC purchased a new stake in Iron Mountain during the 3rd quarter valued at $223,000. Blake Schutter Theil Wealth Advisors LLC bought a new stake in Iron Mountain in the third quarter worth $514,000. Finally, Principal Financial Group Inc. boosted its stake in Iron Mountain by 3.4% during the third quarter. Principal Financial Group Inc. now owns 352,451 shares of the financial services provider’s stock worth $41,882,000 after buying an additional 11,685 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Trading Down 6.3 %

Shares of NYSE IRM opened at $82.77 on Friday. The stock has a market capitalization of $24.31 billion, a PE ratio of 135.68, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 12-month low of $73.53 and a 12-month high of $130.24. The stock’s fifty day simple moving average is $101.12 and its two-hundred day simple moving average is $111.40.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the firm earned $0.52 EPS. On average, equities analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share 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. Shareholders of record on Monday, March 17th will be issued a $0.785 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s payout ratio is currently 514.75%.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of recent analyst reports. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Wells Fargo & Company cut their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada raised their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. lowered their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Finally, Barclays decreased their price target on shares of 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 equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Iron Mountain currently has a consensus rating of “Buy” and a consensus price target of $127.67.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 172,552 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the sale, the chief executive officer now owns 237,402 shares in the company, valued at $21,681,924.66. This represents a 42.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William L. Meaney sold 15,872 shares of the 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 343,114 shares of company stock valued at $33,323,682. Corporate 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.