B. Riley Wealth Advisors Inc. Raises Holdings in Iron Mountain Incorporated (NYSE:IRM)

B. Riley Wealth Advisors Inc. grew its position in shares of Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 9.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 73,094 shares of the financial services provider’s stock after purchasing an additional 6,497 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Iron Mountain were worth $3,215,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Iron Mountain during the third quarter worth about $1,171,000. Sunbelt Securities Inc. purchased a new position in shares of Iron Mountain during the third quarter worth about $244,000. CENTRAL TRUST Co grew its holdings in shares of Iron Mountain by 45.2% during the third quarter. CENTRAL TRUST Co now owns 1,605 shares of the financial services provider’s stock worth $71,000 after buying an additional 500 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in shares of Iron Mountain by 15.3% during the third quarter. Glenmede Trust Co. NA now owns 6,382 shares of the financial services provider’s stock worth $280,000 after buying an additional 847 shares during the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of Iron Mountain by 10.5% during the third quarter. Captrust Financial Advisors now owns 263,713 shares of the financial services provider’s stock worth $11,595,000 after buying an additional 25,059 shares during the last quarter. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $52.08 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 16.46. The company has a market cap of $15.15 billion, a P/E ratio of 27.42, a PEG ratio of 3.62 and a beta of 0.89. Iron Mountain Incorporated has a 52 week low of $43.33 and a 52 week high of $58.61. The company has a 50-day moving average price of $52.86 and a 200 day moving average price of $51.43.

Iron Mountain (NYSE:IRM – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The financial services provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.46). Iron Mountain had a net margin of 10.91% and a return on equity of 79.49%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the business earned $0.74 EPS. Iron Mountain’s revenue for the quarter was up 10.3% on a year-over-year basis. Research analysts predict that Iron Mountain Incorporated will post 3.64 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 15th will be given a dividend of $0.6185 per share. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.75%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Tuesday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 130.00%.

Insider Activity

In other news, CEO William L. Meaney sold 10,507 shares of Iron Mountain stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $50.63, for a total transaction of $531,969.41. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $14,968,759.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO William L. Meaney sold 10,507 shares of Iron Mountain stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $50.63, for a total transaction of $531,969.41. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $14,968,759.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 62,904 shares of Iron Mountain stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $52.78, for a total value of $3,320,073.12. Following the transaction, the chief executive officer now owns 376,320 shares of the company’s stock, valued at $19,862,169.60. The disclosure for this sale can be found here. In the last three months, insiders sold 105,059 shares of company stock worth $5,502,935. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IRM. Exane BNP Paribas began coverage on Iron Mountain in a report on Wednesday, December 14th. They set an “outperform” rating on the stock. BNP Paribas assumed coverage on Iron Mountain in a report on Wednesday, December 14th. They set an “outperform” rating and a $66.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 price objective on shares of Iron Mountain in a research report on Monday, March 6th. Finally, StockNews.com assumed coverage on shares of Iron Mountain in a research report on Thursday. They issued a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.80.

About Iron Mountain

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Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.