Stratos Wealth Partners LTD. Has $285,000 Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Stratos Wealth Partners LTD. grew its position in Iron Mountain Incorporated (NYSE:IRM) by 3.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,312 shares of the financial services provider’s stock after buying an additional 118 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Iron Mountain were worth $285,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IRM. Golden State Wealth Management LLC purchased a new position in shares of Iron Mountain in the first quarter worth about $30,000. Assenagon Asset Management S.A. increased its stake in shares of Iron Mountain by 3.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 11,538 shares of the financial services provider’s stock worth $993,000 after acquiring an additional 388 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in shares of Iron Mountain by 134.7% during the 1st quarter. Miracle Mile Advisors LLC now owns 7,545 shares of the financial services provider’s stock valued at $649,000 after acquiring an additional 4,330 shares during the last quarter. Sowell Financial Services LLC purchased a new position in shares of Iron Mountain in the first quarter worth approximately $285,000. Finally, State of Alaska Department of Revenue raised its stake in Iron Mountain by 1.5% during the 1st quarter. State of Alaska Department of Revenue now owns 176,632 shares of the financial services provider’s stock worth $15,197,000 after acquiring an additional 2,530 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IRM. Wall Street Zen raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Barclays raised their target price on Iron Mountain from $118.00 to $121.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 27th. Finally, Truist Financial began coverage on Iron Mountain in a report on Tuesday, April 8th. They set a “buy” rating and a $95.00 target price for the company. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $121.71.

Iron Mountain Trading Down 0.8%

NYSE:IRM opened at $97.22 on Wednesday. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The firm has a market cap of $28.68 billion, a P/E ratio of 237.12 and a beta of 1.08. The stock’s 50 day simple moving average is $99.87 and its 200-day simple moving average is $95.73.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.01. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. Iron Mountain had a negative return on equity of 201.62% and a net margin of 1.97%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 earnings per share. Research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Monday, June 16th were issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Monday, June 16th. Iron Mountain’s dividend payout ratio is currently 765.85%.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $100.36, for a total transaction of $6,937,385.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Walter C. Rakowich sold 900 shares of Iron Mountain stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $99.97, for a total value of $89,973.00. Following the completion of the transaction, the director owned 36,515 shares in the company, valued at $3,650,404.55. The trade was a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 240,007 shares of company stock worth $23,649,959. Company insiders own 1.90% of the company’s stock.

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.