Strategic Financial Concepts LLC Boosts Stake in Iron Mountain Incorporated (NYSE:IRM)

Strategic Financial Concepts LLC increased its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 10,432.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 242,564 shares of the financial services provider's stock after acquiring an additional 240,261 shares during the period. Strategic Financial Concepts LLC owned about 0.08% of Iron Mountain worth $243,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new position in Iron Mountain during the 3rd quarter valued at about $31,000. West Branch Capital LLC purchased a new position in Iron Mountain during the 3rd quarter valued at about $33,000. Teachers Insurance & Annuity Association of America purchased a new position in Iron Mountain during the 3rd quarter valued at about $36,000. Dunhill Financial LLC increased its holdings in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 152 shares during the period. Finally, Oakworth Capital Inc. purchased a new position in Iron Mountain during the 4th quarter valued at about $55,000. Institutional investors own 80.13% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on IRM shares. StockNews.com downgraded Iron Mountain from a "hold" rating to a "sell" rating in a report on Tuesday, January 28th. Barclays reduced their price target on Iron Mountain from $131.00 to $130.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada upped their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a report on Wednesday, November 27th. BNP Paribas upgraded Iron Mountain to a "strong-buy" rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company reduced 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. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $129.17.

Iron Mountain Stock Performance

Shares of Iron Mountain stock traded up $0.09 during midday trading on Friday, hitting $95.34. The company had a trading volume of 2,521,271 shares, compared to its average volume of 1,704,216. The stock has a market capitalization of $27.98 billion, a P/E ratio of 264.85, a P/E/G ratio of 5.84 and a beta of 1.01. The company has a 50 day moving average of $105.45 and a 200 day moving average of $112.85. Iron Mountain Incorporated has a 52-week low of $67.09 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly 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). The company had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. Iron Mountain had a negative return on equity of 44,660.04% and a net margin of 1.77%. During the same quarter in the previous year, the company earned $0.52 EPS. Equities research analysts forecast that Iron Mountain Incorporated will post 4.18 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a $0.785 dividend. The ex-dividend date is Monday, March 17th. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.29%. Iron Mountain's dividend payout ratio is 514.75%.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,872 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 162,391 shares of company stock valued at $16,805,912. 2.10% of the stock is owned by corporate insiders.

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.