B. Riley Wealth Advisors Inc. Has $2.69 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

B. Riley Wealth Advisors Inc. lessened its holdings in Iron Mountain Incorporated (NYSE:IRM) by 3.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,828 shares of the financial services provider’s stock after selling 960 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Iron Mountain were worth $2,692,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IRM. Bank of Nova Scotia grew its position in Iron Mountain by 79.3% in the fourth quarter. Bank of Nova Scotia now owns 36,275 shares of the financial services provider’s stock valued at $2,538,000 after acquiring an additional 16,049 shares during the last quarter. California State Teachers Retirement System grew its position in Iron Mountain by 1.3% in the fourth quarter. California State Teachers Retirement System now owns 461,203 shares of the financial services provider’s stock valued at $32,275,000 after acquiring an additional 5,754 shares during the last quarter. KBC Group NV grew its position in Iron Mountain by 165.6% in the fourth quarter. KBC Group NV now owns 50,121 shares of the financial services provider’s stock valued at $3,507,000 after acquiring an additional 31,247 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Iron Mountain by 4.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 231,590 shares of the financial services provider’s stock valued at $16,207,000 after acquiring an additional 9,320 shares during the last quarter. Finally, NEOS Investment Management LLC bought a new stake in shares of Iron Mountain during the fourth quarter worth about $289,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM stock opened at $118.24 on Wednesday. The business’s 50 day simple moving average is $110.94 and its 200 day simple moving average is $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 capitalization of $34.66 billion, a PE ratio of 179.15, a PEG ratio of 7.09 and a beta of 1.00. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.79 and a quick ratio of 0.79.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, August 1st. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.59). Iron Mountain had a net margin of 3.94% and a return on equity of 595.44%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company earned $0.94 earnings per share. The business’s revenue was up 13.0% on a year-over-year basis. As a group, research analysts forecast that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th will be paid a $0.715 dividend. The ex-dividend date is Monday, September 16th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.65. This represents a $2.86 annualized dividend and a yield of 2.42%. Iron Mountain’s payout ratio is 433.33%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $27,078,583.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $27,078,583.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John Tomovcsik sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $100.00, for a total value of $250,000.00. Following the completion of the transaction, the chief operating officer now directly owns 17,866 shares in the company, valued at $1,786,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,003 shares of company stock valued at $3,352,406. 2.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

About Iron Mountain

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.