BCO Wealth Management LLC Invests $449,000 in Iron Mountain Incorporated (NYSE:IRM)

BCO Wealth Management LLC bought a new stake in Iron Mountain Incorporated (NYSE:IRM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,275 shares of the financial services provider’s stock, valued at approximately $449,000. Iron Mountain comprises 0.4% of BCO Wealth Management LLC’s portfolio, making the stock its 21st largest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. IMG Wealth Management Inc. bought a new stake in Iron Mountain in the fourth quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Iron Mountain in the 4th quarter valued at $26,000. Key Financial Inc lifted its position 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 acquiring an additional 251 shares during the period. Teachers Insurance & Annuity Association of America bought a new position in Iron Mountain during the third quarter worth $36,000. Finally, Dunhill Financial LLC grew its holdings in Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Down 1.0 %

IRM stock opened at $86.96 on Thursday. The stock’s 50 day moving average is $95.94 and its 200-day moving average is $108.73. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24. The firm has a market capitalization of $25.54 billion, a PE ratio of 142.55, a P/E/G ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data 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). The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period in the prior year, the firm earned $0.52 earnings per share. On average, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a $0.785 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.61%. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 69,131 shares of Iron Mountain 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now directly owns 288 shares in the company, valued at approximately $26,737.92. This represents a 95.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 318,979 shares of company stock valued at $30,666,904 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company cut their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Barclays lowered their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Finally, StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Saturday, March 22nd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $125.67.

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.