Iron Mountain Incorporated (NYSE:IRM) Shares Bought by Truvestments Capital LLC

Truvestments Capital LLC boosted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,416 shares of the financial services provider’s stock after buying an additional 143 shares during the quarter. Truvestments Capital LLC’s holdings in Iron Mountain were worth $1,515,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wealthfront Advisers LLC boosted its stake in Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock worth $721,562,000 after purchasing an additional 6,795,792 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 buying an additional 2,672,821 shares during the period. Raymond James Financial Inc. purchased a new stake in Iron Mountain in the 4th quarter valued at about $55,271,000. Mizuho Securities USA LLC raised its holdings 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 buying an additional 495,898 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC raised its holdings in Iron Mountain by 158.3% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 541,028 shares of the financial services provider’s stock valued at $56,867,000 after buying an additional 331,536 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. Insiders sold 327,242 shares of company stock worth $31,530,305 in the last 90 days. 2.10% of the stock is owned by company insiders.

Iron Mountain Stock Up 1.6 %

Shares of IRM stock opened at $84.70 on Wednesday. The stock has a 50-day simple moving average of $99.43 and a 200 day simple moving average of $110.61. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The stock has a market capitalization of $24.88 billion, a P/E ratio of 138.86, a P/E/G ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). The business had revenue of $1.58 billion during 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 period in the prior year, the company posted $0.52 earnings per share. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be given a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.71%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IRM. Royal Bank of Canada boosted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Barclays decreased their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Wells Fargo & Company decreased their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. cut their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $127.67.

Iron Mountain 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.