Assetmark Inc. Purchases 24,679 Shares of Iron Mountain Incorporated (NYSE:IRM)

Assetmark Inc. increased its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 50.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 73,214 shares of the financial services provider's stock after purchasing an additional 24,679 shares during the period. Assetmark Inc.'s holdings in Iron Mountain were worth $7,696,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. OneDigital Investment Advisors LLC raised its holdings in Iron Mountain by 1.5% during the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider's stock worth $711,000 after purchasing an additional 89 shares in the last quarter. Geller Advisors LLC lifted its holdings in shares of Iron Mountain by 2.9% in the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider's stock valued at $403,000 after buying an additional 96 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Iron Mountain by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider's stock valued at $2,644,000 after buying an additional 100 shares in the last quarter. Claro Advisors LLC grew its holdings in Iron Mountain by 0.6% during the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider's stock worth $1,986,000 after acquiring an additional 103 shares during the period. Finally, Premier Path Wealth Partners LLC grew its holdings in 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 worth $299,000 after acquiring an additional 106 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Iron Mountain Stock Performance

Shares of NYSE IRM traded down $1.09 during midday trading on Monday, hitting $83.29. The company's stock had a trading volume of 162,059 shares, compared to its average volume of 1,654,311. The firm's fifty day moving average price is $100.25 and its 200-day moving average price is $111.02. The firm has a market cap of $24.47 billion, a P/E ratio of 136.98, a P/E/G ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings data 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). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the company earned $0.52 earnings per share. As a group, research analysts predict 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 paid a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.77%. Iron Mountain's dividend payout ratio is currently 514.75%.

Analyst Upgrades and Downgrades

IRM has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th. Royal Bank of Canada raised their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. Finally, Barclays decreased their target price on shares of Iron Mountain from $131.00 to $130.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $127.67.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 15,872 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the sale, the executive vice president now owns 13,054 shares of the company's stock, valued at approximately $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 343,114 shares of company stock valued at $33,323,682 over the last ninety days. Corporate insiders own 2.10% of the company's stock.

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.