Stratos Wealth Partners LTD. Raises Stock Position in Iron Mountain Incorporated $IRM

Stratos Wealth Partners LTD. lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 55.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,140 shares of the financial services provider’s stock after buying an additional 1,828 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Iron Mountain were worth $527,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC purchased a new stake in Iron Mountain in the 1st quarter valued at $26,000. Golden State Wealth Management LLC purchased a new stake in Iron Mountain in the 1st quarter valued at $30,000. Ramirez Asset Management Inc. purchased a new stake in Iron Mountain in the 1st quarter valued at $34,000. Wayfinding Financial LLC purchased a new stake in Iron Mountain in the 1st quarter valued at $37,000. Finally, Richards Merrill & Peterson Inc. acquired a new position in Iron Mountain in the 1st quarter valued at $43,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research note on Wednesday, October 8th. Jefferies Financial Group assumed coverage on shares of Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective on the stock. Barclays boosted their price objective on shares of Iron Mountain from $121.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $112.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Finally, Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Monday. 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, Iron Mountain has an average rating of “Moderate Buy” and a consensus target price of $116.83.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $94.55, for a total value of $6,535,768.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $102.34, for a total transaction of $7,074,252.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,375 shares of company stock valued at $20,347,156. Insiders own 1.90% of the company’s stock.

Iron Mountain Stock Down 0.0%

NYSE:IRM opened at $103.93 on Friday. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24. The stock has a market cap of $30.70 billion, a PE ratio of 742.44 and a beta of 1.06. The firm’s fifty day simple moving average is $98.68 and its 200-day simple moving average is $96.64.

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

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 3rd. Investors 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 of this dividend was Monday, September 15th. Iron Mountain’s dividend payout ratio is presently 2,242.86%.

Iron Mountain Company Profile

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.