iA Global Asset Management Inc. Takes Position in Iron Mountain Incorporated (NYSE:IRM)

iA Global Asset Management Inc. bought a new stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,505 shares of the financial services provider's stock, valued at approximately $1,104,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Geller Advisors LLC lifted its holdings in Iron Mountain by 2.9% in the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider's stock worth $403,000 after buying an additional 96 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of 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 valued at $2,644,000 after purchasing an additional 100 shares during the period. Premier Path Wealth Partners LLC boosted its position 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 purchasing an additional 106 shares in the last quarter. Mather Group LLC. grew its stake in Iron Mountain by 4.6% in the fourth quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider's stock worth $271,000 after purchasing an additional 113 shares during the period. Finally, Secured Retirement Advisors LLC raised its holdings in Iron Mountain by 6.5% in the fourth quarter. Secured Retirement Advisors LLC now owns 1,967 shares of the financial services provider's stock worth $207,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

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Insider Buying and Selling at Iron Mountain

In related news, CAO Daniel Borges sold 6,433 shares of the business's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 288 shares of the company's stock, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 69,131 shares of the company's stock in a transaction that occurred on 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. In the last 90 days, insiders have sold 318,979 shares of company stock worth $30,666,904. Company insiders own 2.10% of the company's stock.

Iron Mountain Stock Performance

Shares of NYSE:IRM traded down $0.91 during trading on Wednesday, reaching $86.96. 1,226,216 shares of the stock traded hands, compared to its average volume of 1,683,521. The stock has a market cap of $25.54 billion, a P/E ratio of 142.55, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. The stock has a 50-day moving average of $96.32 and a two-hundred day moving average of $108.88. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its 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 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 analysts' expectations of $1.60 billion. During the same quarter in the prior year, the business posted $0.52 earnings per share. Sell-side analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced 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 a positive change from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.61%. Iron Mountain's payout ratio is 514.75%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Saturday. Barclays cut their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. 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. Wells Fargo & Company dropped their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced 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 given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $125.67.

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.