Cerity Partners LLC Buys 3,474 Shares of Iron Mountain Incorporated (NYSE:IRM)

Cerity Partners LLC raised its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 11.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,836 shares of the financial services provider's stock after acquiring an additional 3,474 shares during the period. Cerity Partners LLC's holdings in Iron Mountain were worth $3,625,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in IRM. IMG Wealth Management Inc. bought a new position in Iron Mountain in the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Iron Mountain in the fourth quarter worth $26,000. Key Financial Inc increased its holdings in shares of Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 251 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in Iron Mountain by 46.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after purchasing an additional 155 shares during the period. Finally, Parkworth Wealth Management Inc. bought a new position in Iron Mountain in the 4th quarter valued at about $53,000. 80.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on IRM. JPMorgan Chase & Co. decreased their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. Barclays cut their price objective on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. Wells Fargo & Company lowered their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Truist Financial assumed coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price on the stock. Finally, StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Tuesday, April 8th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $121.29.

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Iron Mountain Stock Down 0.8 %

IRM stock traded down $0.66 during midday trading on Wednesday, reaching $82.64. The company's stock had a trading volume of 1,176,103 shares, compared to its average volume of 1,818,693. The business's 50-day simple moving average is $88.63 and its 200-day simple moving average is $105.07. The stock has a market cap of $24.27 billion, a PE ratio of 135.48, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a 52 week low of $72.33 and a 52 week high of $130.24.

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

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were paid a $0.785 dividend. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.80%. Iron Mountain's payout ratio is presently 514.75%.

Insider Activity

In other news, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. 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 business'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 transaction, the chief executive officer now owns 237,402 shares in the company, valued at $21,681,924.66. This represents a 42.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 318,973 shares of company stock worth $29,370,872 over the last ninety days. Insiders own 2.10% of the company's stock.

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.