Cetera Trust Company N.A Purchases New Stake in Iron Mountain Incorporated (NYSE:IRM)

Cetera Trust Company N.A purchased a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,050 shares of the financial services provider’s stock, valued at approximately $283,000.

Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in Iron Mountain by 201.7% during the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after buying an additional 242 shares during the period. Exchange Traded Concepts LLC bought a new position in Iron Mountain during the fourth quarter valued at about $26,000. Harbor Investment Advisory LLC grew its position in Iron Mountain by 92.2% during the third quarter. Harbor Investment Advisory LLC now owns 417 shares of the financial services provider’s stock valued at $25,000 after buying an additional 200 shares during the period. Manchester Capital Management LLC grew its position in Iron Mountain by 6,983.3% during the third quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock valued at $25,000 after buying an additional 419 shares during the period. Finally, First Capital Advisors Group LLC. bought a new position in Iron Mountain during the second quarter valued at about $25,000. Institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on IRM shares. Barclays increased their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. TheStreet lowered shares of Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Wells Fargo & Company increased their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Finally, Stifel Nicolaus increased their target price on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.80.

Iron Mountain Trading Up 0.9 %

Shares of Iron Mountain stock opened at $75.10 on Monday. Iron Mountain Incorporated has a 12-month low of $52.81 and a 12-month high of $82.19. The company has a market cap of $21.95 billion, a price-to-earnings ratio of 119.21, a PEG ratio of 4.51 and a beta of 0.94. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78. The company’s 50-day moving average price is $76.56 and its 200-day moving average price is $68.78.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities analysts expect that Iron Mountain Incorporated will post 4.16 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain’s payout ratio is 412.70%.

Insider Transactions at Iron Mountain

In other news, CAO Daniel Borges sold 996 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the sale, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at $247,600. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the sale, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at $247,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $1,083,310.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $20,175,156. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 164,124 shares of company stock valued at $12,698,221. 2.20% of the stock is currently owned by corporate insiders.

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.