Madison Investment Advisors LLC Acquires New Shares in Iron Mountain Incorporated (NYSE:IRM)

Madison Investment Advisors LLC purchased a new position in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 24,369 shares of the financial services provider's stock, valued at approximately $2,561,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IRM. OneDigital Investment Advisors LLC boosted its holdings in shares of Iron Mountain by 1.5% during the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider's stock valued at $711,000 after acquiring an additional 89 shares during the period. Geller Advisors LLC boosted its stake in Iron Mountain by 2.9% during the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider's stock valued at $403,000 after purchasing an additional 96 shares during the period. Oregon Public Employees Retirement Fund grew its position in Iron Mountain by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider's stock worth $2,644,000 after purchasing an additional 100 shares during the last quarter. Claro Advisors LLC increased its stake in shares of Iron Mountain by 0.6% in the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider's stock valued at $1,986,000 after purchasing an additional 103 shares during the period. Finally, Premier Path Wealth Partners LLC raised its holdings in shares of Iron Mountain by 3.9% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider's stock valued at $299,000 after buying an additional 106 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts recently commented on the company. JPMorgan Chase & Co. lowered their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Barclays lowered their price target on Iron Mountain from $131.00 to $130.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company reduced their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada raised their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a research note on Wednesday, November 27th. Finally, StockNews.com lowered shares of Iron Mountain from a "hold" rating to a "sell" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $127.67.

Iron Mountain Stock Performance

Shares of NYSE:IRM traded down $1.59 during midday trading on Tuesday, reaching $87.56. The company had a trading volume of 1,787,715 shares, compared to its average volume of 1,675,025. The company has a fifty day simple moving average of $98.00 and a two-hundred day simple moving average of $109.87. The firm has a market cap of $25.72 billion, a price-to-earnings ratio of 143.54, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). The firm 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 last year, the business earned $0.52 earnings per share. Analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.59%. The ex-dividend date is Monday, March 17th. Iron Mountain's payout ratio is 514.75%.

Insider Activity

In related news, CEO William L. Meaney sold 172,552 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the sale, the chief executive officer now directly owns 237,402 shares of the company's stock, valued at approximately $21,681,924.66. This represents a 42.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,131 shares of the firm'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 over the last quarter. Corporate insiders own 2.10% 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.