Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. increased its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 136,826 shares of the financial services provider's stock after acquiring an additional 6,981 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Iron Mountain were worth $14,382,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IRM. Wealthfront Advisers LLC boosted its stake in shares of Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock valued at $721,562,000 after buying an additional 6,795,792 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Iron Mountain by 537.0% in the third 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 acquiring an additional 2,672,821 shares in the last quarter. Raymond James Financial Inc. bought a new position in Iron Mountain during the 4th quarter valued at $55,271,000. Cbre Investment Management Listed Real Assets LLC grew its holdings in Iron Mountain by 158.3% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 541,028 shares of the financial services provider's stock worth $56,867,000 after acquiring an additional 331,536 shares in the last quarter. Finally, Aew Capital Management L P increased its position in shares of Iron Mountain by 55.6% in the 4th quarter. Aew Capital Management L P now owns 678,887 shares of the financial services provider's stock worth $71,358,000 after purchasing an additional 242,490 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

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Insider Activity

In related news, CEO William L. Meaney sold 172,552 shares of the stock in a transaction dated Monday, March 3rd. The shares were 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 in the company, valued at $21,681,924.66. This represents a 42.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 318,979 shares of company stock valued at $30,666,904. Insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IRM. 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. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Barclays lowered their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Royal Bank of Canada boosted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a research note on Wednesday, November 27th. One equities research 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 company. According to MarketBeat.com, Iron Mountain presently has a consensus rating of "Buy" and an average price target of $125.67.

Iron Mountain Price Performance

NYSE:IRM traded down $0.91 during midday trading on Wednesday, reaching $86.96. 1,226,216 shares of the company traded hands, compared to its average volume of 1,683,521. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24. The company has a fifty day moving average price of $96.32 and a 200 day moving average price of $108.88. The firm has a market capitalization of $25.54 billion, a price-to-earnings ratio of 142.55, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results 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). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the company posted $0.52 EPS. On average, equities research 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 declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.61%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio (DPR) is presently 514.75%.

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.