Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 39.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 18,413 shares of the financial services provider’s stock after acquiring an additional 5,208 shares during the period. Axxcess Wealth Management LLC’s holdings in Iron Mountain were worth $1,935,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealthfront Advisers LLC raised its position in shares of Iron Mountain by 9,843.3% in the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock valued at $721,562,000 after purchasing an additional 6,795,792 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Iron Mountain by 537.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after purchasing an additional 2,672,821 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Iron Mountain in the 4th quarter valued at approximately $55,271,000. Cbre Investment Management Listed Real Assets LLC raised its position in shares of Iron Mountain by 158.3% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 541,028 shares of the financial services provider’s stock valued at $56,867,000 after acquiring an additional 331,536 shares in the last quarter. Finally, Aew Capital Management L P raised its position in shares of Iron Mountain by 55.6% during the 4th quarter. Aew Capital Management L P now owns 678,887 shares of the financial services provider’s stock valued at $71,358,000 after acquiring an additional 242,490 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Iron Mountain

In other news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value 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 represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Daniel Borges sold 6,433 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the transaction, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at $26,737.92. This represents a 95.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 327,242 shares of company stock valued at $31,530,305. 2.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on IRM shares. Wells Fargo & Company dropped their price target 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. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Barclays dropped 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. StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Finally, Royal Bank of Canada upped their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.67.

Iron Mountain Price Performance

Shares of IRM opened at $88.63 on Thursday. The company has a market cap of $26.04 billion, a P/E ratio of 145.30, a PEG ratio of 5.15 and a beta of 1.04. The stock has a fifty day moving average price of $97.45 and a 200 day moving average price of $109.54. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 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 company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. As a group, research analysts anticipate 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. Stockholders of record on Monday, March 17th will be paid a $0.785 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.54%. Iron Mountain’s dividend payout ratio is presently 514.75%.

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.