Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 39.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,413 shares of the financial services provider's stock after buying an additional 5,208 shares during the quarter. Axxcess Wealth Management LLC's holdings in Iron Mountain were worth $1,935,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IRM. Key Financial Inc grew its stake in Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after buying an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $26,000. IMG Wealth Management Inc. purchased a new position in shares of Iron Mountain during the fourth quarter worth approximately $26,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Iron Mountain in the 3rd quarter valued at $36,000. Finally, Parkworth Wealth Management Inc. purchased a new stake in Iron Mountain in the 4th quarter valued at $53,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Price Performance

Shares of IRM stock traded up $2.60 during trading hours on Monday, reaching $90.14. 1,037,527 shares of the company's stock were exchanged, compared to its average volume of 1,683,843. The company's 50 day moving average is $96.89 and its two-hundred day moving average is $109.17. The company has a market cap of $26.48 billion, a P/E ratio of 147.77, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 1 year low of $73.53 and a 1 year high of $130.24.

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Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $1.60 billion. During the same period in the prior year, the company earned $0.52 EPS. As a group, analysts predict that Iron Mountain Incorporated will post 4.54 EPS 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. Investors of record on Monday, March 17th will be paid a $0.785 dividend. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.48%. Iron Mountain's dividend payout ratio (DPR) is 514.75%.

Insiders Place Their Bets

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares of the company's stock, valued at $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 172,552 shares of the firm's stock in a transaction that occurred on 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 directly owns 237,402 shares of the company's stock, valued at approximately $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. Over the last three months, insiders have sold 318,979 shares of company stock worth $30,666,904. 2.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

IRM has been the topic of several research reports. Wells Fargo & Company lowered their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Barclays lowered their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday. JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. Royal Bank of Canada lifted their target price on Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a research note on Wednesday, November 27th. Finally, StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $125.67.

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.