Mercer Global Advisors Inc. ADV Buys 8,890 Shares of Iron Mountain Incorporated (NYSE:IRM)

Posted by Defense World Staff on May 15th, 2023

Mercer Global Advisors Inc. ADV grew its stake in Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 17.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,197 shares of the financial services provider’s stock after purchasing an additional 8,890 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Iron Mountain were worth $2,951,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Financial Gravity Asset Management Inc. bought a new stake in shares of Iron Mountain in the 3rd quarter valued at approximately $2,038,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in shares of Iron Mountain by 440.1% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 767 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 625 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new position in shares of Iron Mountain in the 3rd quarter worth approximately $42,000. Accurate Wealth Management LLC acquired a new position in shares of Iron Mountain in the 4th quarter worth approximately $48,000. Finally, Spire Wealth Management boosted its holdings in shares of Iron Mountain by 104.1% in the 4th quarter. Spire Wealth Management now owns 1,531 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 781 shares in the last quarter. 77.12% of the stock is currently owned by institutional investors.

Iron Mountain Stock Down 0.2 %

NYSE:IRM opened at $55.09 on Monday. The stock’s fifty day moving average price is $53.15 and its two-hundred day moving average price is $52.64. Iron Mountain Incorporated has a 52-week low of $43.33 and a 52-week high of $57.21. The company has a debt-to-equity ratio of 19.91, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $16.07 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 3.71 and a beta of 0.91.

Iron Mountain (NYSE:IRM – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.46). The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.32 billion. Iron Mountain had a return on equity of 88.48% and a net margin of 11.20%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 EPS. On average, analysts anticipate that Iron Mountain Incorporated will post 3.77 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 15th will be paid a $0.6185 dividend. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend is Wednesday, June 14th. Iron Mountain’s dividend payout ratio (DPR) is currently 124.75%.

Insider Activity

In other news, CEO William L. Meaney sold 10,507 shares of the stock in a transaction on Friday, April 14th. The stock was sold at an average price of $53.55, for a total value of $562,649.85. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $15,832,057.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO William L. Meaney sold 10,507 shares of the stock in a transaction on Friday, April 14th. The stock was sold at an average price of $53.55, for a total value of $562,649.85. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $15,832,057.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 62,904 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $52.78, for a total transaction of $3,320,073.12. Following the completion of the sale, the chief executive officer now owns 376,320 shares of the company’s stock, valued at approximately $19,862,169.60. The disclosure for this sale can be found here. Insiders have sold a total of 94,552 shares of company stock valued at $4,993,621 in the last 90 days. 2.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays boosted their target price on Iron Mountain from $56.00 to $64.00 in a report on Friday, May 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 target price on shares of Iron Mountain in a report on Monday, March 6th. Finally, StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.00.

About Iron Mountain

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Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.