Palacios Wealth Management LLC Invests $373,000 in Iron Mountain Incorporated (NYSE:IRM)

Palacios Wealth Management LLC acquired a new stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,525 shares of the financial services provider's stock, valued at approximately $373,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Vontobel Holding Ltd. boosted its stake in shares of Iron Mountain by 3.7% during the fourth quarter. Vontobel Holding Ltd. now owns 4,668 shares of the financial services provider's stock valued at $491,000 after purchasing an additional 168 shares during the period. Van ECK Associates Corp boosted its stake in shares of Iron Mountain by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 55,571 shares of the financial services provider's stock valued at $5,841,000 after purchasing an additional 5,150 shares during the period. Kentucky Trust Co purchased a new stake in shares of Iron Mountain during the fourth quarter valued at approximately $2,259,000. Axecap Investments LLC boosted its stake in shares of Iron Mountain by 6.0% during the fourth quarter. Axecap Investments LLC now owns 9,149 shares of the financial services provider's stock valued at $962,000 after purchasing an additional 515 shares during the period. Finally, Summit Trail Advisors LLC lifted its stake in Iron Mountain by 19.4% in the fourth quarter. Summit Trail Advisors LLC now owns 5,704 shares of the financial services provider's stock worth $604,000 after acquiring an additional 927 shares during the period. Hedge funds and other institutional investors own 80.13% of the company's stock.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The stock was 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 represents a 38.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 162,391 shares of company stock worth $16,805,912. 2.10% of the stock is owned by company insiders.

Iron Mountain Trading Down 1.4 %

IRM traded down $1.37 during trading on Tuesday, reaching $94.04. The stock had a trading volume of 2,588,544 shares, compared to its average volume of 1,967,163. The company has a market capitalization of $27.60 billion, a price-to-earnings ratio of 261.22, a P/E/G ratio of 5.84 and a beta of 1.01. The stock's 50 day moving average is $104.71 and its two-hundred day moving average is $112.66. Iron Mountain Incorporated has a one year low of $67.09 and a one year high of $130.24.

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 (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 net margin of 1.77% and a negative return on equity of 44,660.04%. During the same quarter last year, the firm posted $0.52 earnings per share. On average, equities research analysts predict that Iron Mountain Incorporated will post 4.18 earnings per share for the current 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 dividend of $0.785 per share. The ex-dividend date of this dividend is 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 3.34%. Iron Mountain's payout ratio is 794.47%.

Analyst Ratings Changes

A number of analysts recently commented on IRM shares. BNP Paribas raised Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday. Wells Fargo & Company dropped their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Royal Bank of Canada raised their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. Finally, StockNews.com lowered Iron Mountain from a "hold" rating to a "sell" rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.67.

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.