WealthBridge Capital Management LLC Boosts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

WealthBridge Capital Management LLC raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,181 shares of the financial services provider’s stock after purchasing an additional 322 shares during the period. WealthBridge Capital Management LLC’s holdings in Iron Mountain were worth $1,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Creative Planning boosted its holdings in Iron Mountain by 2.2% in the third quarter. Creative Planning now owns 98,905 shares of the financial services provider’s stock worth $11,753,000 after acquiring an additional 2,083 shares in the last quarter. Blue Trust Inc. boosted its holdings in Iron Mountain by 142.4% in the third quarter. Blue Trust Inc. now owns 2,138 shares of the financial services provider’s stock worth $254,000 after acquiring an additional 1,256 shares in the last quarter. Signaturefd LLC boosted its holdings in Iron Mountain by 12.7% in the third quarter. Signaturefd LLC now owns 6,026 shares of the financial services provider’s stock worth $716,000 after acquiring an additional 677 shares in the last quarter. Eastern Bank acquired a new stake in Iron Mountain in the third quarter worth about $87,000. Finally, Symphony Financial Ltd. Co. boosted its holdings in Iron Mountain by 6.9% in the third quarter. Symphony Financial Ltd. Co. now owns 17,569 shares of the financial services provider’s stock worth $2,077,000 after acquiring an additional 1,128 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Down 1.6 %

Shares of NYSE:IRM opened at $92.69 on Thursday. Iron Mountain Incorporated has a 12-month low of $67.09 and a 12-month high of $130.24. The company has a market capitalization of $27.20 billion, a PE ratio of 151.96, a PEG ratio of 5.25 and a beta of 1.01. The business has a 50 day moving average of $104.30 and a two-hundred day moving average of $112.52.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results 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). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the firm posted $0.52 earnings per share. Equities research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a $0.785 dividend. 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 yield of 3.39%. Iron Mountain’s payout ratio is presently 468.85%.

Insider Activity

In other news, CEO William L. Meaney sold 69,131 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. 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 8,263 shares of the business’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 sale, the executive vice president now owns 13,054 shares of the company’s stock, 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. Insiders sold 162,391 shares of company stock worth $16,805,912 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. 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 report on Wednesday, November 27th. Wells Fargo & Company lowered their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. decreased their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Barclays decreased their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company 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.