B. Riley Wealth Advisors Inc. Sells 960 Shares of Iron Mountain Incorporated (NYSE:IRM)

B. Riley Wealth Advisors Inc. reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,828 shares of the financial services provider’s stock after selling 960 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Iron Mountain were worth $2,692,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Iron Mountain during the 2nd quarter worth approximately $32,000. Transcendent Capital Group LLC bought a new position in shares of Iron Mountain during the 4th quarter worth approximately $36,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Iron Mountain during the 2nd quarter worth approximately $36,000. Headlands Technologies LLC bought a new position in shares of Iron Mountain during the 1st quarter worth approximately $38,000. Finally, Family Firm Inc. bought a new position in shares of Iron Mountain in the second quarter valued at $45,000. 80.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IRM. Stifel Nicolaus raised their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Wells Fargo & Company raised their target price on shares of Iron Mountain from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group raised their target price on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Iron Mountain currently has an average rating of “Moderate Buy” and an average price target of $106.00.

Insider Transactions at Iron Mountain

In other news, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $91.59, for a total value of $1,453,991.25. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $27,078,583.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total value of $989,230.00. Following the completion of the transaction, the director now directly owns 14,829 shares of the company’s stock, valued at approximately $1,725,799.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,003 shares of company stock valued at $3,352,406. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Trading Down 0.5 %

IRM stock opened at $118.24 on Wednesday. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79. The company has a fifty day moving average price of $110.94 and a two-hundred day moving average price of $93.19. Iron Mountain Incorporated has a one year low of $56.51 and a one year high of $120.54. The stock has a market cap of $34.66 billion, a price-to-earnings ratio of 179.15, a price-to-earnings-growth ratio of 7.09 and a beta of 1.00.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business posted $0.94 EPS. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities analysts anticipate that Iron Mountain Incorporated will post 4.17 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th will be issued a dividend of $0.715 per share. The ex-dividend date is Monday, September 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.42%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio (DPR) is currently 433.33%.

Iron Mountain 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.