IMG Wealth Management Inc. Invests $26,000 in Iron Mountain Incorporated (NYSE:IRM)

IMG Wealth Management Inc. purchased a new position in Iron Mountain Incorporated (NYSE:IRM) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 244 shares of the financial services provider’s stock, valued at approximately $26,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Madison Investment Advisors LLC bought a new stake in shares of Iron Mountain in the 4th quarter worth approximately $2,561,000. Commonwealth Equity Services LLC boosted its position in shares of Iron Mountain by 1.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 225,063 shares of the financial services provider’s stock worth $23,656,000 after purchasing an additional 2,361 shares in the last quarter. Balboa Wealth Partners boosted its position in shares of Iron Mountain by 92.0% in the 4th quarter. Balboa Wealth Partners now owns 4,031 shares of the financial services provider’s stock worth $424,000 after purchasing an additional 1,931 shares in the last quarter. Erste Asset Management GmbH lifted its position in Iron Mountain by 6.4% in the 4th quarter. Erste Asset Management GmbH now owns 86,600 shares of the financial services provider’s stock valued at $9,068,000 after acquiring an additional 5,200 shares in the last quarter. Finally, Achmea Investment Management B.V. lifted its position in Iron Mountain by 15.5% in the 4th quarter. Achmea Investment Management B.V. now owns 42,770 shares of the financial services provider’s stock valued at $4,495,000 after acquiring an additional 5,747 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Iron Mountain Trading Up 2.9 %

IRM opened at $89.13 on Tuesday. The company has a market cap of $26.18 billion, a price-to-earnings ratio of 146.11, a PEG ratio of 5.15 and a beta of 1.04. The company’s 50 day moving average is $98.00 and its 200 day moving average is $109.87. Iron Mountain Incorporated has a 12-month low of $73.53 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data 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). The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period in the previous year, the business posted $0.52 EPS. As a group, analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a $0.785 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.52%. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. This represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 327,242 shares of company stock valued at $31,530,305. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on IRM shares. JPMorgan Chase & Co. lowered their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Barclays lowered their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a research report on Friday. Wells Fargo & Company lowered their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada upped their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. One 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 company. Based on data from MarketBeat, the stock 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.