Cornerstone Wealth Group LLC Purchases New Holdings in Iron Mountain Incorporated (NYSE:IRM)

Cornerstone Wealth Group LLC acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,811 shares of the financial services provider’s stock, valued at approximately $306,000.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in shares of Iron Mountain by 201.7% during the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 242 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Iron Mountain in the 4th quarter valued at about $26,000. CVA Family Office LLC acquired a new stake in shares of Iron Mountain during the 4th quarter worth approximately $32,000. Transcendent Capital Group LLC bought a new stake in shares of Iron Mountain during the fourth quarter worth approximately $36,000. Finally, Heritage Wealth Advisors acquired a new position in Iron Mountain in the fourth quarter valued at approximately $38,000. 80.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, COO John Tomovcsik sold 35,084 shares of Iron Mountain stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $88.76, for a total value of $3,114,055.84. Following the sale, the chief operating officer now owns 20,366 shares of the company’s stock, valued at approximately $1,807,686.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Edward Baker-Greene sold 6,200 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $88.35, for a total transaction of $547,770.00. Following the completion of the transaction, the executive vice president now directly owns 11,311 shares in the company, valued at approximately $999,326.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO John Tomovcsik sold 35,084 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $88.76, for a total value of $3,114,055.84. Following the sale, the chief operating officer now owns 20,366 shares in the company, valued at approximately $1,807,686.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,511 shares of company stock worth $8,787,218. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Barclays upped their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. The Goldman Sachs Group upped their price target on Iron Mountain from $89.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $78.33.

Iron Mountain Stock Up 0.5 %

Shares of Iron Mountain stock traded up $0.41 on Friday, hitting $89.62. The company had a trading volume of 3,284,005 shares, compared to its average volume of 2,524,909. The stock has a 50-day moving average of $82.25 and a 200-day moving average of $75.99. 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 twelve month low of $55.02 and a twelve month high of $90.40. The firm has a market capitalization of $26.27 billion, a P/E ratio of 135.79, a P/E/G ratio of 5.31 and a beta of 0.95.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s payout ratio is presently 393.95%.

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.