Parkworth Wealth Management Inc. Takes $53,000 Position in Iron Mountain Incorporated (NYSE:IRM)

Parkworth Wealth Management Inc. purchased a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) in the 4th quarter, Holdings Channel reports. The fund purchased 500 shares of the financial services provider’s stock, valued at approximately $53,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in Iron Mountain by 44.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,427 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 751 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Iron Mountain by 8.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 8,293 shares of the financial services provider’s stock valued at $872,000 after purchasing an additional 647 shares during the last quarter. Natural Investments LLC bought a new position in Iron Mountain during the 4th quarter valued at about $361,000. Wealthfront Advisers LLC lifted its holdings in Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock valued at $721,562,000 after purchasing an additional 6,795,792 shares during the last quarter. Finally, Johnson Investment Counsel Inc. lifted its holdings in Iron Mountain by 58.1% during the 4th quarter. Johnson Investment Counsel Inc. now owns 3,231 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 1,188 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IRM. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Barclays dropped their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Wells Fargo & Company dropped their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada boosted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $127.67.

Insider Activity

In other news, CAO Daniel Borges sold 6,433 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the transaction, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 327,242 shares of company stock valued at $31,530,305 over the last ninety days. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Trading Up 1.6 %

NYSE IRM opened at $84.70 on Wednesday. The firm’s fifty day moving average price is $99.43 and its two-hundred day moving average price is $110.61. Iron Mountain Incorporated has a 1 year low of $73.53 and a 1 year high of $130.24. The firm has a market capitalization of $24.88 billion, a P/E ratio of 138.86, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the company posted $0.52 earnings per share. On average, research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a $0.785 dividend. The ex-dividend date is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.71%. Iron Mountain’s dividend payout ratio is presently 514.75%.

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.