Iron Mountain Incorporated (NYSE:IRM) Holdings Lifted by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 39.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,413 shares of the financial services provider’s stock after buying an additional 5,208 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Iron Mountain were worth $1,935,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of IRM. OneDigital Investment Advisors LLC lifted its holdings in shares of Iron Mountain by 1.5% during the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after purchasing an additional 89 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Iron Mountain by 3.2% during the third quarter. Empowered Funds LLC now owns 13,482 shares of the financial services provider’s stock valued at $1,602,000 after purchasing an additional 414 shares during the last quarter. Caprock Group LLC lifted its holdings in shares of Iron Mountain by 26.3% during the third quarter. Caprock Group LLC now owns 5,049 shares of the financial services provider’s stock valued at $605,000 after purchasing an additional 1,051 shares during the last quarter. Prospera Financial Services Inc lifted its holdings in shares of Iron Mountain by 11.3% during the third quarter. Prospera Financial Services Inc now owns 2,808 shares of the financial services provider’s stock valued at $334,000 after purchasing an additional 285 shares during the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Iron Mountain during the third quarter valued at $1,221,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM stock opened at $88.63 on Thursday. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The stock’s 50-day moving average is $97.45 and its two-hundred day moving average is $109.54. The firm 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.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the company earned $0.52 earnings per share. As a group, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be given 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 3.54%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio is presently 514.75%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Royal Bank of Canada upped their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Barclays reduced their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research note on Friday, March 14th. Wells Fargo & Company reduced their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and an average price target of $127.67.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 172,552 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the transaction, the chief executive officer now owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. This represents a 42.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Daniel Borges sold 6,433 shares of the 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 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 327,242 shares of company stock valued at $31,530,305 in the last three months. 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.