Cetera Investment Advisers Raises Position in Iron Mountain Incorporated (NYSE:IRM)

Cetera Investment Advisers grew its position in Iron Mountain Incorporated (NYSE:IRM) by 708.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 229,863 shares of the financial services provider’s stock after acquiring an additional 201,448 shares during the period. Cetera Investment Advisers’ holdings in Iron Mountain were worth $18,437,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cohen & Steers Inc. raised its position in Iron Mountain by 202.1% during the fourth quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock worth $1,572,936,000 after acquiring an additional 15,035,937 shares during the last quarter. Norges Bank acquired a new position in Iron Mountain during the fourth quarter worth about $228,391,000. Daiwa Securities Group Inc. raised its position in Iron Mountain by 60.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after acquiring an additional 1,546,592 shares during the last quarter. Centersquare Investment Management LLC raised its position in Iron Mountain by 7,892.6% during the first quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after acquiring an additional 1,519,237 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Iron Mountain by 59.1% during the fourth quarter. Russell Investments Group Ltd. now owns 2,081,786 shares of the financial services provider’s stock worth $145,879,000 after acquiring an additional 772,988 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on IRM shares. Wells Fargo & Company upped their price objective on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday. Stifel Nicolaus upped their price objective on shares of Iron Mountain from $86.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. increased their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, The Goldman Sachs Group increased their price target on shares of Iron Mountain from $106.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.29.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $81.03, for a total transaction of $1,286,351.25. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $23,956,519.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $81.03, for a total value of $1,286,351.25. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $23,956,519.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Greg W. Mcintosh sold 13,923 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $87.41, for a total transaction of $1,217,009.43. Following the completion of the transaction, the executive vice president now owns 18,107 shares in the company, valued at $1,582,732.87. The disclosure for this sale can be found here. In the last three months, insiders sold 99,919 shares of company stock valued at $8,791,683. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Down 2.6 %

IRM traded down $2.85 during trading hours on Friday, reaching $106.69. 3,465,848 shares of the stock traded hands, compared to its average volume of 2,003,669. The firm’s fifty day simple moving average is $91.45 and its two-hundred day simple moving average is $80.98. The company has a market cap of $31.27 billion, a price-to-earnings ratio of 161.65, a PEG ratio of 6.49 and a beta of 0.98. Iron Mountain Incorporated has a fifty-two week low of $56.51 and a fifty-two week high of $112.79. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.86.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 2.68%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. The ex-dividend date is Monday, September 16th. Iron Mountain’s dividend payout ratio (DPR) is presently 393.95%.

Iron Mountain 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.