Wealthfront Advisers LLC boosted its holdings in Iron Mountain Inc (NYSE:IRM) by 32.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,392 shares of the financial services provider’s stock after acquiring an additional 6,264 shares during the quarter. Wealthfront Advisers LLC’s holdings in Iron Mountain were worth $900,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Baldwin Brothers Inc. MA purchased a new position in Iron Mountain in the first quarter worth $44,000. JNBA Financial Advisors purchased a new position in Iron Mountain in the fourth quarter worth $83,000. BlackRock Inc. raised its position in Iron Mountain by 1.2% in the fourth quarter. BlackRock Inc. now owns 20,124,142 shares of the financial services provider’s stock worth $652,224,000 after acquiring an additional 231,023 shares in the last quarter. Bank of Montreal Can raised its position in Iron Mountain by 6.6% in the first quarter. Bank of Montreal Can now owns 345,648 shares of the financial services provider’s stock worth $12,257,000 after acquiring an additional 21,510 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in Iron Mountain by 1.1% in the fourth quarter. Prudential Financial Inc. now owns 306,663 shares of the financial services provider’s stock worth $9,939,000 after acquiring an additional 3,252 shares in the last quarter. Hedge funds and other institutional investors own 88.07% of the company’s stock.
Shares of IRM stock traded down $0.54 during mid-day trading on Friday, reaching $31.54. The stock had a trading volume of 99,325 shares, compared to its average volume of 2,636,350. Iron Mountain Inc has a 12-month low of $30.22 and a 12-month high of $37.32. The stock has a market cap of $9.08 billion, a P/E ratio of 13.74, a P/E/G ratio of 3.05 and a beta of 0.64. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 4.75.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 17th will be given a $0.611 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 7.75%. The ex-dividend date is Friday, June 14th. Iron Mountain’s dividend payout ratio is currently 106.09%.
IRM has been the subject of several research analyst reports. Robert W. Baird set a $34.00 price objective on Iron Mountain and gave the stock a “hold” rating in a research report on Friday, February 15th. Mitsubishi UFJ Financial Group raised their price target on Iron Mountain to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, February 20th. Credit Suisse Group restated an “underperform” rating on shares of Iron Mountain in a research report on Tuesday, February 19th. ValuEngine cut Iron Mountain from a “buy” rating to a “hold” rating in a research report on Thursday, February 14th. Finally, TheStreet cut Iron Mountain from a “b-” rating to a “c+” rating in a research report on Tuesday, May 14th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $35.13.
In related news, EVP Ernest W. Cloutier sold 46,014 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $36.41, for a total transaction of $1,675,369.74. Following the sale, the executive vice president now owns 109,757 shares of the company’s stock, valued at $3,996,252.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Edward Bicks sold 2,922 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $36.55, for a total value of $106,799.10. Following the sale, the senior vice president now directly owns 2,922 shares in the company, valued at approximately $106,799.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,602 shares of company stock valued at $2,038,718. Company insiders own 1.90% of the company’s stock.
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About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.
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