Cetera Advisors LLC Grows Position in Iron Mountain Incorporated (NYSE:IRM)

Cetera Advisors LLC lifted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 14.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,505 shares of the financial services provider’s stock after purchasing an additional 8,917 shares during the quarter. Cetera Advisors LLC’s holdings in Iron Mountain were worth $5,575,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Cohen & Steers Inc. boosted its holdings in Iron Mountain by 202.1% during the 4th quarter. Cohen & Steers Inc. now owns 22,475,614 shares of the financial services provider’s stock valued at $1,572,936,000 after acquiring an additional 15,035,937 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Iron Mountain by 11.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock valued at $365,931,000 after acquiring an additional 475,849 shares during the period. Norges Bank purchased a new position in Iron Mountain during the 4th quarter valued at about $228,391,000. Charles Schwab Investment Management Inc. boosted its holdings in Iron Mountain by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,157,681 shares of the financial services provider’s stock valued at $220,975,000 after acquiring an additional 81,741 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Iron Mountain by 59.1% during the 4th quarter. Russell Investments Group Ltd. now owns 2,081,786 shares of the financial services provider’s stock valued at $145,879,000 after acquiring an additional 772,988 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Transactions at Iron Mountain

In other news, Director Wendy J. Murdock sold 3,547 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $77.60, for a total transaction of $275,247.20. Following the sale, the director now owns 20,944 shares of the company’s stock, valued at approximately $1,625,254.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Iron Mountain news, Director Wendy J. Murdock sold 3,547 shares of Iron Mountain stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $77.60, for a total transaction of $275,247.20. Following the transaction, the director now owns 20,944 shares of the company’s stock, valued at $1,625,254.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Walter C. Rakowich sold 954 shares of Iron Mountain stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $81.33, for a total value of $77,588.82. Following the transaction, the director now directly owns 35,166 shares in the company, valued at approximately $2,860,050.78. The disclosure for this sale can be found here. In the last 90 days, insiders have 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 %

Shares of NYSE IRM traded down $2.85 during midday trading on Friday, hitting $106.69. 3,465,848 shares of the company’s stock were exchanged, compared to its average volume of 2,003,669. 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 Incorporated has a twelve month low of $56.51 and a twelve month high of $112.79. The company has a market cap of $31.27 billion, a PE ratio of 161.65, a P/E/G ratio of 6.49 and a beta of 0.98. The firm’s fifty day simple moving average is $91.45 and its 200-day simple moving average is $80.98.

Iron Mountain Increases Dividend

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

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.