OVERSEA CHINESE BANKING Corp Ltd Buys 4,140 Shares of Iron Mountain Incorporated (NYSE:IRM)

OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 5.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,831 shares of the financial services provider's stock after purchasing an additional 4,140 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Iron Mountain were worth $8,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of IRM. PNC Financial Services Group Inc. increased its holdings in Iron Mountain by 2.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider's stock worth $6,402,000 after acquiring an additional 1,446 shares during the last quarter. Merit Financial Group LLC increased its holdings in Iron Mountain by 91.5% in the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider's stock worth $1,570,000 after acquiring an additional 7,137 shares during the last quarter. Tidal Investments LLC increased its holdings in Iron Mountain by 254.1% in the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider's stock worth $2,440,000 after acquiring an additional 14,737 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Iron Mountain by 151.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider's stock worth $961,000 after acquiring an additional 5,511 shares during the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in Iron Mountain in the 3rd quarter worth about $24,122,000. Institutional investors own 80.13% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on IRM shares. 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 report on Wednesday, November 27th. Wells Fargo & Company decreased their price objective on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Barclays reduced their target price on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday, February 18th. Finally, StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a report on Saturday. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Iron Mountain presently has a consensus rating of "Buy" and an average target price of $125.67.

Insider Activity

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 completion of the sale, the chief accounting officer now owns 288 shares in the company, valued at $26,737.92. The trade was a 95.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 69,131 shares of the business'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 sold 327,242 shares of company stock worth $31,530,305. 2.10% of the stock is currently owned by insiders.

Iron Mountain Trading Down 0.9 %

Shares of IRM traded down $0.79 during trading hours on Friday, reaching $87.64. 3,116,949 shares of the company's stock traded hands, compared to its average volume of 1,686,439. The stock has a market cap 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. The firm's 50 day simple moving average is $96.89 and its 200-day simple moving average is $109.19. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $0.52 EPS. As a group, analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Monday, March 17th. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio (DPR) is 514.75%.

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.