LaSalle St. Investment Advisors LLC Buys New Stake in Iron Mountain Incorporated (NYSE:IRM)

LaSalle St. Investment Advisors LLC purchased a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,414 shares of the financial services provider's stock, valued at approximately $358,000.

A number of other large investors also recently modified their holdings of the business. Key Financial Inc increased 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 valued at $26,000 after buying an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC bought a new position in shares of Iron Mountain in the fourth quarter valued at approximately $26,000. IMG Wealth Management Inc. acquired a new position in shares of Iron Mountain during the fourth quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. raised its holdings in Iron Mountain by 46.4% during 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 in the last quarter. Finally, Parkworth Wealth Management Inc. acquired a new stake in Iron Mountain in the fourth quarter worth approximately $53,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Up 1.9 %

Shares of IRM traded up $1.58 during trading hours on Friday, reaching $84.21. The company's stock had a trading volume of 1,824,556 shares, compared to its average volume of 1,823,770. The company has a 50 day moving average of $87.73 and a two-hundred day moving average of $104.67. The firm has a market cap of $24.74 billion, a price-to-earnings ratio of 138.05, a P/E/G ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter in the prior year, the company posted $0.52 EPS. As a group, analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were paid a dividend of $0.785 per share. The ex-dividend date of this dividend was Monday, March 17th. This is an increase 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 3.73%. Iron Mountain's dividend payout ratio (DPR) is 514.75%.

Insider Activity

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the sale, the chief accounting officer now directly owns 288 shares in the company, valued at $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 318,973 shares of company stock worth $29,370,872 in the last three months. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

IRM has been the topic of a number of research reports. Truist Financial assumed coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Friday. Wells Fargo & Company cut their target price 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. Finally, Barclays decreased their price target on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $121.29.

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.