Wealthfront Advisers LLC Acquires 200 Shares of Iron Mountain Incorporated $IRM

Wealthfront Advisers LLC boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,981 shares of the financial services provider’s stock after acquiring an additional 200 shares during the quarter. Wealthfront Advisers LLC’s holdings in Iron Mountain were worth $7,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in IRM. Oppenheimer Asset Management Inc. grew its stake in shares of Iron Mountain by 9.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 14,016 shares of the financial services provider’s stock worth $1,438,000 after purchasing an additional 1,173 shares during the last quarter. Strait & Sound Wealth Management LLC raised its holdings in Iron Mountain by 4.2% in the second quarter. Strait & Sound Wealth Management LLC now owns 9,597 shares of the financial services provider’s stock worth $984,000 after purchasing an additional 390 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs lifted its position in Iron Mountain by 3.2% during the 2nd quarter. AG2R LA Mondiale Gestion D Actifs now owns 16,338 shares of the financial services provider’s stock valued at $1,676,000 after acquiring an additional 502 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in shares of Iron Mountain by 0.3% during the second quarter. State of New Jersey Common Pension Fund D now owns 97,012 shares of the financial services provider’s stock valued at $9,951,000 after purchasing an additional 272 shares during the last quarter. Finally, Ranch Capital Advisors Inc. boosted its holdings in Iron Mountain by 3.1% in the second quarter. Ranch Capital Advisors Inc. now owns 35,247 shares of the financial services provider’s stock worth $3,636,000 after acquiring an additional 1,048 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Friday, August 1st. The stock was sold at an average price of $94.55, for a total transaction of $6,535,768.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $91.05, for a total value of $546,300.00. Following the completion of the sale, the executive vice president owned 79,081 shares of the company’s stock, valued at $7,200,325.05. The trade was a 7.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 213,375 shares of company stock valued at $20,347,156 over the last quarter. 1.90% of the stock is owned by corporate insiders.

Iron Mountain Trading Up 1.1%

Iron Mountain stock opened at $106.40 on Tuesday. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $129.67. The firm has a 50-day moving average price of $99.27 and a 200-day moving average price of $97.22. The firm has a market capitalization of $31.43 billion, a PE ratio of 760.07 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.05. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.68 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 earnings per share. As a group, sell-side analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 15th were paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, September 15th. Iron Mountain’s dividend payout ratio is currently 2,242.86%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday, October 20th. Jefferies Financial Group began coverage on Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective for the company. Barclays lifted their price target on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, August 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $116.83.

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.