Axis Wealth Partners LLC Acquires Shares of 4,017 Iron Mountain Incorporated (NYSE:IRM)

Axis Wealth Partners LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,017 shares of the financial services provider's stock, valued at approximately $422,000.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Iron Mountain by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider's stock worth $978,479,000 after acquiring an additional 128,622 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Iron Mountain by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider's stock worth $365,656,000 after purchasing an additional 92,475 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider's stock valued at $376,756,000 after purchasing an additional 2,672,821 shares during the period. Captrust Financial Advisors boosted its holdings in Iron Mountain by 5.2% in the 3rd quarter. Captrust Financial Advisors now owns 951,552 shares of the financial services provider's stock worth $113,073,000 after buying an additional 47,327 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Iron Mountain by 1.1% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 910,723 shares of the financial services provider's stock worth $95,726,000 after buying an additional 10,160 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In related news, CEO William L. Meaney sold 69,131 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 172,552 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the completion of the sale, the chief executive officer now owns 237,402 shares of the company's stock, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 343,114 shares of company stock valued at $33,323,682. Insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Royal Bank of Canada increased their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. dropped their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Barclays reduced their target price on Iron Mountain from $131.00 to $130.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, Wells Fargo & Company reduced their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $127.67.

Iron Mountain Trading Down 1.3 %

Shares of IRM traded down $1.13 during trading hours on Monday, reaching $83.26. 3,201,688 shares of the company's stock traded hands, compared to its average volume of 1,665,888. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24. The stock has a market cap of $24.46 billion, a PE ratio of 136.48, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. The firm's 50 day simple moving average is $100.25 and its 200-day simple moving average is $111.02.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.70). The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period in the prior year, the firm posted $0.52 earnings per share. As a group, analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain's dividend payout ratio (DPR) is 514.75%.

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.