TD Asset Management Inc. Purchases 1,086,308 Shares of Iron Mountain Incorporated (NYSE:IRM)

TD Asset Management Inc. boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 125.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,952,432 shares of the financial services provider's stock after buying an additional 1,086,308 shares during the period. TD Asset Management Inc. owned approximately 0.67% of Iron Mountain worth $205,220,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Geller Advisors LLC boosted its stake in Iron Mountain by 2.9% in the third 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 in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Iron Mountain by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider's stock valued at $2,644,000 after purchasing an additional 100 shares in the last quarter. Premier Path Wealth Partners LLC grew its holdings in shares of Iron Mountain by 3.9% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider's stock valued at $299,000 after purchasing an additional 106 shares during the last quarter. Mather Group LLC. increased its position in Iron Mountain by 4.6% during the 4th quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider's stock worth $271,000 after purchasing an additional 113 shares in the last quarter. Finally, One Charles Private Wealth Services LLC lifted its stake in Iron Mountain by 1.0% in the 4th quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider's stock valued at $1,236,000 after purchasing an additional 119 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

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Insider Activity

In other Iron Mountain news, 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 of the company's stock, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction that occurred on 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. Insiders have sold 318,979 shares of company stock valued at $30,666,904 in the last ninety days. 2.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a report on Saturday, March 22nd. Barclays cut their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. lowered their price objective 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. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $125.67.

Iron Mountain Stock Performance

Shares of IRM traded down $0.44 during mid-day trading on Friday, reaching $85.07. 1,293,278 shares of the company were exchanged, compared to its average volume of 1,763,517. The business has a 50 day simple moving average of $94.97 and a two-hundred day simple moving average of $108.35. The stock has a market capitalization of $24.99 billion, a PE ratio of 139.46, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly 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). 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 previous year, the business posted $0.52 EPS. On average, analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm 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. The ex-dividend date is Monday, March 17th. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.69%. Iron Mountain's dividend payout ratio (DPR) is 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.