Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,246,311 shares of the financial services provider's stock after purchasing an additional 5,705 shares during the quarter. Iron Mountain makes up 1.6% of Duff & Phelps Investment Management Co.'s portfolio, making the stock its 17th biggest holding. Duff & Phelps Investment Management Co. owned 0.42% of Iron Mountain worth $131,000,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Cerity Partners LLC grew its stake in Iron Mountain by 47.4% in the 3rd quarter. Cerity Partners LLC now owns 29,362 shares of the financial services provider's stock valued at $3,489,000 after acquiring an additional 9,442 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Iron Mountain by 29.8% during the 3rd quarter. Larson Financial Group LLC now owns 557 shares of the financial services provider's stock worth $66,000 after purchasing an additional 128 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Iron Mountain during the 3rd quarter worth approximately $271,000. Loomis Sayles & Co. L P lifted its stake in Iron Mountain by 3,253.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 872 shares of the financial services provider's stock valued at $104,000 after buying an additional 846 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Iron Mountain by 2.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 209,648 shares of the financial services provider's stock valued at $24,912,000 after buying an additional 4,150 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts have issued reports on IRM shares. Wells Fargo & Company reduced their target price on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Barclays reduced 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 note on Thursday, March 20th. StockNews.com downgraded Iron Mountain from a "hold" rating to a "sell" rating in a report on Monday. Finally, JPMorgan Chase & Co. decreased their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Iron Mountain has a consensus rating of "Moderate Buy" and an average price target of $125.67.

Insider Activity

In related news, CEO William L. Meaney sold 69,125 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 172,552 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the transaction, the chief executive officer now owns 237,402 shares in the company, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 318,979 shares of company stock worth $30,666,904 over the last 90 days. Company insiders own 2.10% of the company's stock.

Iron Mountain Price Performance

NYSE IRM traded down $0.01 during mid-day trading on Tuesday, hitting $86.03. The company's stock had a trading volume of 519,830 shares, compared to its average volume of 1,761,201. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24. The stock's fifty day simple moving average is $94.51 and its two-hundred day simple moving average is $108.10. The firm has a market capitalization of $25.27 billion, a P/E ratio of 141.71, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM - Get Free Report) last posted 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). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. On average, equities analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal 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. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.65%. Iron Mountain's dividend payout ratio (DPR) is 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.