Intech Investment Management LLC Boosts Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Intech Investment Management LLC lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 99.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 420,200 shares of the financial services provider's stock after purchasing an additional 210,045 shares during the quarter. Iron Mountain accounts for 1.3% of Intech Investment Management LLC's holdings, making the stock its 24th biggest holding. Intech Investment Management LLC owned approximately 0.14% of Iron Mountain worth $44,167,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of IRM. IMG Wealth Management Inc. bought a new stake in shares of Iron Mountain during the fourth quarter worth about $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Iron Mountain during the fourth quarter worth about $26,000. Key Financial Inc grew its holdings in shares of Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after purchasing an additional 251 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in shares of Iron Mountain during the third quarter worth about $36,000. Finally, Dunhill Financial LLC grew its holdings in shares of Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider's stock worth $54,000 after purchasing an additional 152 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

IRM traded down $0.79 on Friday, hitting $87.64. 3,116,949 shares of the company were exchanged, compared to its average volume of 1,684,595. The firm has a fifty day simple moving average of $96.89 and a two-hundred day simple moving average of $109.22. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24. The stock has a market capitalization of $25.74 billion, a PE ratio of 143.67, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

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Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts' consensus estimates 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 net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter in the previous year, the business earned $0.52 EPS. On average, equities 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. Stockholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. 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 3.58%. Iron Mountain's dividend payout ratio is currently 514.75%.

Insider Buying and Selling

In other news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, the executive vice president now owns 13,054 shares of the company's stock, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Daniel Borges sold 6,433 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the sale, the chief accounting officer now directly owns 288 shares in the company, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 327,242 shares of company stock valued at $31,530,305 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

IRM has been the topic of several research reports. Barclays reduced their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday. JPMorgan Chase & Co. reduced their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Royal Bank of Canada lifted their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. Wells Fargo & Company cut their price objective on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Finally, StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a research note on Saturday. 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. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $125.67.

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.