J.W. Cole Advisors Inc. Has $3.43 Million Stock Holdings in Iron Mountain Incorporated $IRM

J.W. Cole Advisors Inc. lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 54.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,596 shares of the financial services provider’s stock after purchasing an additional 11,893 shares during the period. J.W. Cole Advisors Inc.’s holdings in Iron Mountain were worth $3,425,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in IRM. Evermay Wealth Management LLC bought a new stake in Iron Mountain during the 3rd quarter worth approximately $116,000. Adell Harriman & Carpenter Inc. lifted its holdings in shares of Iron Mountain by 0.6% during the third quarter. Adell Harriman & Carpenter Inc. now owns 326,315 shares of the financial services provider’s stock worth $33,265,000 after purchasing an additional 2,015 shares during the period. American Assets Capital Advisers LLC grew its stake in shares of Iron Mountain by 6.4% in the third quarter. American Assets Capital Advisers LLC now owns 24,433 shares of the financial services provider’s stock worth $2,491,000 after purchasing an additional 1,464 shares during the last quarter. Atlantic Union Bankshares Corp grew its stake in shares of Iron Mountain by 6.1% in the third quarter. Atlantic Union Bankshares Corp now owns 9,462 shares of the financial services provider’s stock worth $965,000 after purchasing an additional 541 shares during the last quarter. Finally, AGF Management Ltd. increased its holdings in Iron Mountain by 178.0% in the third quarter. AGF Management Ltd. now owns 22,185 shares of the financial services provider’s stock valued at $2,262,000 after purchasing an additional 14,205 shares during the period. Institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on IRM. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Barclays reaffirmed an “overweight” rating and issued a $126.00 price objective on shares of Iron Mountain in a research note on Tuesday, January 13th. JPMorgan Chase & Co. upped their target price on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and an average target price of $113.00.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $83.34, for a total transaction of $5,760,877.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the firm’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $83.10, for a total value of $498,600.00. Following the completion of the sale, the executive vice president owned 55,081 shares of the company’s stock, valued at approximately $4,577,231.10. This represents a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 119,607 shares of company stock worth $9,970,025 in the last quarter. 1.90% of the stock is owned by corporate insiders.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $88.95 on Friday. The stock’s 50-day moving average is $86.74 and its 200 day moving average is $93.60. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $108.15. The firm has a market cap of $26.29 billion, a price-to-earnings ratio of 167.82 and a beta of 1.16.

Iron Mountain (NYSE:IRM) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.03. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.75 billion. Iron Mountain had a negative return on equity of 112.70% and a net margin of 2.40%.The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.13 earnings per share. On average, sell-side analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Company Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.