Iron Mountain Incorporated (NYSE:IRM) Shares Purchased by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 13.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,380 shares of the financial services provider’s stock after purchasing an additional 771 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Iron Mountain were worth $446,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Iron Mountain by 315.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock worth $179,079,000 after purchasing an additional 2,286,711 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Iron Mountain by 60.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after acquiring an additional 1,546,592 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Iron Mountain by 214.7% in the third quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock valued at $103,744,000 after purchasing an additional 1,178,754 shares during the period. Invesco Ltd. grew its holdings in Iron Mountain by 49.7% in the 3rd quarter. Invesco Ltd. now owns 3,243,435 shares of the financial services provider’s stock worth $192,822,000 after buying an additional 1,077,339 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Iron Mountain by 59.1% in the 4th quarter. Russell Investments Group Ltd. now owns 2,081,786 shares of the financial services provider’s stock valued at $145,879,000 after buying an additional 772,988 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of IRM opened at $78.04 on Thursday. The company has a 50-day moving average of $78.29 and a two-hundred day moving average of $70.30. The stock has a market cap of $22.88 billion, a price-to-earnings ratio of 118.24, a PEG ratio of 4.51 and a beta of 0.96. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. Iron Mountain Incorporated has a one year low of $52.81 and a one year high of $82.19.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.48). The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Iron Mountain had a return on equity of 282.93% and a net margin of 5.45%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, equities research analysts expect that Iron Mountain Incorporated will post 4.18 earnings per share for the current year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 annualized dividend and a yield of 3.33%. Iron Mountain’s dividend payout ratio (DPR) is presently 393.95%.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Wells Fargo & Company boosted their price objective on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Stifel Nicolaus raised their target price on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Finally, TheStreet downgraded shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $73.80.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 115,979 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $78.90, for a total transaction of $9,150,743.10. Following the transaction, the chief executive officer now directly owns 432,682 shares in the company, valued at approximately $34,138,609.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the transaction, the chief executive officer now owns 295,650 shares in the company, valued at approximately $22,670,442. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 115,979 shares of Iron Mountain stock in a transaction on Monday, March 4th. The shares were sold at an average price of $78.90, for a total transaction of $9,150,743.10. Following the completion of the sale, the chief executive officer now directly owns 432,682 shares of the company’s stock, valued at approximately $34,138,609.80. The disclosure for this sale can be found here. Insiders sold 153,296 shares of company stock valued at $12,023,923 over the last three months. 2.10% of the stock is owned by corporate insiders.

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.