EP Wealth Advisors LLC Invests $211,000 in Iron Mountain Incorporated (NYSE:IRM)

Posted by Defense World Staff on Sep 19th, 2023

EP Wealth Advisors LLC acquired a new position in Iron Mountain Incorporated (NYSE:IRM – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,059 shares of the financial services provider’s stock, valued at approximately $211,000.

Several other large investors have also recently made changes to their positions in IRM. Compass Wealth Management LLC acquired a new position in shares of Iron Mountain in the 4th quarter worth approximately $26,000. Prostatis Group LLC acquired a new position in shares of Iron Mountain in the 4th quarter worth approximately $28,000. BOKF NA purchased a new stake in Iron Mountain during the 1st quarter worth approximately $31,000. True Wealth Design LLC purchased a new stake in Iron Mountain during the 4th quarter worth approximately $33,000. Finally, Kalos Management Inc. purchased a new stake in Iron Mountain during the 1st quarter worth approximately $36,000. 76.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Iron Mountain in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Royal Bank of Canada raised shares of Iron Mountain from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $58.00 to $68.00 in a research note on Monday, August 21st. Finally, Barclays upped their target price on shares of Iron Mountain from $64.00 to $69.00 and gave the stock an “overweight” rating in a research note on Monday, August 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $65.75.

View Our Latest Analysis on IRM

Iron Mountain Trading Up 0.4 %

Shares of NYSE:IRM opened at $63.10 on Tuesday. Iron Mountain Incorporated has a 52 week low of $43.33 and a 52 week high of $64.37. The company’s 50 day moving average is $61.47 and its two-hundred day moving average is $56.81. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 26.77. The company has a market cap of $18.42 billion, a PE ratio of 48.54, a P/E/G ratio of 4.24 and a beta of 0.92.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 15th will be given a $0.65 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.12%. Iron Mountain’s dividend payout ratio is currently 200.00%.

Insider Buying and Selling at Iron Mountain

In other news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $59.70, for a total value of $119,400.00. Following the completion of the transaction, the executive vice president now owns 60,026 shares in the company, valued at approximately $3,583,552.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $59.70, for a total value of $119,400.00. Following the completion of the transaction, the executive vice president now owns 60,026 shares in the company, valued at approximately $3,583,552.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William L. Meaney sold 10,507 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $60.22, for a total transaction of $632,731.54. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $17,804,043. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,395 shares of company stock valued at $2,256,112. Insiders own 2.20% of the company’s stock.

Iron Mountain Profile

(Free Report)

Iron Mountain Incorporated (NYSE: IRM) is a global leader in innovative storage, data center infrastructure, asset lifecycle management and information management services. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER to transform their businesses.