CoreFirst Bank & Trust Takes $2.65 Million Position in Iron Mountain Incorporated (NYSE:IRM)

CoreFirst Bank & Trust bought a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 25,174 shares of the financial services provider's stock, valued at approximately $2,646,000. Iron Mountain makes up approximately 1.6% of CoreFirst Bank & Trust's portfolio, making the stock its 13th biggest holding.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Iron Mountain by 1.6% in the third quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider's stock valued at $978,479,000 after purchasing an additional 128,622 shares during the period. Wealthfront Advisers LLC raised its position in Iron Mountain by 9,843.3% in the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after purchasing an additional 6,795,792 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Iron Mountain by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider's stock valued at $365,656,000 after buying an additional 92,475 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Iron Mountain by 537.0% during the third 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 worth $376,756,000 after buying an additional 2,672,821 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Iron Mountain by 5.2% during the third quarter. Captrust Financial Advisors now owns 951,552 shares of the financial services provider's stock worth $113,073,000 after buying an additional 47,327 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

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Iron Mountain Trading Down 0.5 %

Shares of Iron Mountain stock traded down $0.44 during trading on Friday, reaching $85.07. The company's stock had a trading volume of 1,293,278 shares, compared to its average volume of 1,763,517. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The company has a 50-day moving average price of $94.97 and a two-hundred day moving average price of $108.39. The firm has a market cap of $24.99 billion, a PE ratio of 139.46, a P/E/G ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter last year, the company earned $0.52 EPS. On average, analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.69%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain's payout ratio is 514.75%.

Analysts Set New Price Targets

A number of brokerages have commented on IRM. Barclays dropped their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a report on Saturday, March 22nd. Wells Fargo & Company lowered their price objective on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. cut 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. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $125.67.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 69,131 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Daniel Borges sold 6,433 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares of the company's stock, valued at $26,737.92. The trade was a 95.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 318,979 shares of company stock valued at $30,666,904 over the last ninety days. Corporate insiders own 2.10% of the company's stock.

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.