Charles Schwab Investment Management Inc. Increases Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 2.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,478,790 shares of the financial services provider's stock after purchasing an additional 92,475 shares during the period. Charles Schwab Investment Management Inc. owned about 1.19% of Iron Mountain worth $365,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Iron Mountain by 537.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider's stock valued at $376,756,000 after purchasing an additional 2,672,821 shares in the last quarter. Mizuho Securities USA LLC increased its holdings in Iron Mountain by 2,193.9% in the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider's stock valued at $61,613,000 after buying an additional 495,898 shares in the last quarter. Aew Capital Management L P increased its holdings in Iron Mountain by 55.6% in the fourth quarter. Aew Capital Management L P now owns 678,887 shares of the financial services provider's stock valued at $71,358,000 after buying an additional 242,490 shares in the last quarter. Strategic Financial Concepts LLC raised its position in shares of Iron Mountain by 10,432.5% in the fourth quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider's stock worth $243,000 after acquiring an additional 240,261 shares during the period. Finally, KBC Group NV boosted its stake in shares of Iron Mountain by 368.4% during the 3rd quarter. KBC Group NV now owns 305,392 shares of the financial services provider's stock worth $36,289,000 after acquiring an additional 240,195 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Barclays cut their price objective on Iron Mountain from $131.00 to $130.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. Royal Bank of Canada upped their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. dropped their price target 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. One investment 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 stock. According to MarketBeat, Iron Mountain currently has a consensus rating of "Buy" and a consensus target price of $127.67.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,872 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Daniel Borges sold 6,433 shares of the business's stock in a transaction dated 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. This represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 343,114 shares of company stock worth $33,323,682. Company insiders own 2.10% of the company's stock.

Iron Mountain Stock Up 1.7 %

NYSE IRM traded up $1.42 during trading on Friday, hitting $84.21. The stock had a trading volume of 3,868,939 shares, compared to its average volume of 2,231,151. The company has a market capitalization of $24.74 billion, a PE ratio of 138.05, a PEG ratio of 5.15 and a beta of 1.04. The firm has a 50 day moving average price of $100.25 and a 200 day moving average price of $111.03. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the firm posted $0.52 EPS. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a $0.785 dividend. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Monday, March 17th. Iron Mountain's dividend payout ratio (DPR) is presently 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.