IFP Advisors Inc Acquires 848 Shares of Iron Mountain Incorporated (NYSE:IRM)

IFP Advisors Inc raised its holdings in Iron Mountain Incorporated (NYSE:IRM) by 23.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,413 shares of the financial services provider’s stock after buying an additional 848 shares during the period. IFP Advisors Inc’s holdings in Iron Mountain were worth $464,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of IRM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Iron Mountain by 537.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after acquiring an additional 2,672,821 shares during the last quarter. Mizuho Securities USA LLC grew its position in Iron Mountain by 2,193.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock valued at $61,613,000 after acquiring an additional 495,898 shares during the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Iron Mountain by 10,432.5% in the 4th quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock worth $243,000 after buying an additional 240,261 shares during the period. KBC Group NV lifted its holdings in shares of Iron Mountain by 368.4% in the 3rd quarter. KBC Group NV now owns 305,392 shares of the financial services provider’s stock worth $36,289,000 after buying an additional 240,195 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Iron Mountain in the 3rd quarter worth $26,429,000. Institutional investors own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 162,391 shares of company stock valued at $16,805,912 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on IRM. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Company lowered their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. lowered their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Finally, Barclays lowered their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain has a consensus rating of “Buy” and an average price target of $127.67.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $93.15 on Friday. The stock has a market capitalization of $27.36 billion, a P/E ratio of 152.70, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24. The business has a fifty day moving average price of $102.11 and a 200 day moving average price of $111.78.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter last year, the company earned $0.52 earnings per share. As a group, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.37%. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio is currently 514.75%.

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.