525,841 Shares in Iron Mountain Incorporated (NYSE:IRM) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 525,841 shares of the financial services provider's stock, valued at approximately $55,271,000. Raymond James Financial Inc. owned about 0.18% of Iron Mountain at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Key Financial Inc boosted its stake in Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after acquiring an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in shares of Iron Mountain during the fourth quarter worth $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Iron Mountain in the 3rd quarter valued at $31,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Iron Mountain in the 3rd quarter valued at $36,000. Finally, Dunhill Financial LLC raised its stake in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider's stock worth $54,000 after buying an additional 152 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares of the company's stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the chief accounting officer now directly owns 288 shares in the company, valued at $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 327,242 shares of company stock worth $31,530,305 in the last ninety days. Insiders own 2.10% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. Barclays cut their price target on shares of Iron Mountain from $131.00 to $130.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company dropped their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Finally, Royal Bank of Canada boosted their price objective 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. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $127.67.

Iron Mountain Price Performance

IRM stock traded up $1.58 during midday trading on Friday, hitting $86.68. The company's stock had a trading volume of 1,764,941 shares, compared to its average volume of 1,676,742. The company's fifty day moving average price is $99.06 and its 200 day moving average price is $110.45. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24. The stock has a market capitalization of $25.46 billion, a P/E ratio of 142.09, a PEG ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter in the previous year, the company posted $0.52 EPS. Equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS 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. Stockholders of record on Monday, March 17th will be given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.62%. 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.