Lee Danner & Bass Inc. Buys 9,245 Shares of Iron Mountain Incorporated (NYSE:IRM)

Lee Danner & Bass Inc. lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 36.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,450 shares of the financial services provider's stock after purchasing an additional 9,245 shares during the period. Lee Danner & Bass Inc.'s holdings in Iron Mountain were worth $3,621,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. increased its position in Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after buying an additional 155 shares during the period. Whittier Trust Co. increased its position in Iron Mountain by 4.8% during the fourth quarter. Whittier Trust Co. now owns 3,157 shares of the financial services provider's stock worth $332,000 after acquiring an additional 144 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Iron Mountain by 36.9% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 157,117 shares of the financial services provider's stock valued at $16,515,000 after purchasing an additional 42,326 shares during the period. iA Global Asset Management Inc. acquired a new position in shares of Iron Mountain during the 4th quarter worth approximately $1,104,000. Finally, Teacher Retirement System of Texas increased its holdings in shares of Iron Mountain by 1,736.4% during the fourth quarter. Teacher Retirement System of Texas now owns 36,049 shares of the financial services provider's stock worth $3,789,000 after purchasing an additional 34,086 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

IRM has been the topic of a number of analyst reports. Royal Bank of Canada increased their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 27th. Barclays dropped their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research note on Thursday, March 20th. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Saturday. JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company reduced their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $125.67.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 172,552 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the transaction, the chief executive officer now owns 237,402 shares of the company's stock, valued at $21,681,924.66. This represents a 42.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares in the company, valued at approximately $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 318,979 shares of company stock valued at $30,666,904 in the last 90 days. Corporate insiders own 2.10% of the company's stock.

Iron Mountain Stock Down 2.5 %

Shares of IRM stock traded down $2.25 on Tuesday, reaching $87.84. The company had a trading volume of 1,685,023 shares, compared to its average volume of 1,683,673. The business's 50-day moving average is $96.65 and its 200 day moving average is $109.03. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24. The stock has a market capitalization of $25.80 billion, a PE ratio of 144.00, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $1.58 billion during 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 period in the previous year, the company earned $0.52 EPS. On average, sell-side 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. Investors of record on Monday, March 17th will be given a dividend of $0.785 per share. The ex-dividend date is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.57%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's payout ratio is currently 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.