Van ECK Associates Corp Purchases 5,150 Shares of Iron Mountain Incorporated (NYSE:IRM)

Van ECK Associates Corp boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 10.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,571 shares of the financial services provider's stock after purchasing an additional 5,150 shares during the period. Van ECK Associates Corp's holdings in Iron Mountain were worth $5,841,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Creative Planning increased its stake in shares of Iron Mountain by 2.2% in the third quarter. Creative Planning now owns 98,905 shares of the financial services provider's stock worth $11,753,000 after acquiring an additional 2,083 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in Iron Mountain in the third quarter valued at about $535,000. Blue Trust Inc. increased its position in Iron Mountain by 142.4% in the 3rd quarter. Blue Trust Inc. now owns 2,138 shares of the financial services provider's stock worth $254,000 after purchasing an additional 1,256 shares during the last quarter. New Century Financial Group LLC purchased a new stake in shares of Iron Mountain during the 3rd quarter worth about $252,000. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Iron Mountain by 2.6% during the 3rd quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider's stock valued at $511,000 after buying an additional 107 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Stock Down 1.9 %

Shares of IRM stock traded down $1.73 during trading hours on Friday, reaching $91.77. 2,392,295 shares of the company's stock were exchanged, compared to its average volume of 2,128,673. Iron Mountain Incorporated has a fifty-two week low of $70.00 and a fifty-two week high of $130.24. The stock has a market capitalization of $26.96 billion, a P/E ratio of 150.44, a P/E/G ratio of 5.11 and a beta of 1.01. The business has a fifty day moving average price of $103.50 and a 200-day moving average price of $112.30.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results 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 company 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 expect that Iron Mountain Incorporated will post 4.54 EPS 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. Investors of record on Monday, March 17th will be paid a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.42%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain's payout ratio is currently 514.75%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective 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. cut their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday. Royal Bank of Canada increased their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 27th. StockNews.com lowered Iron Mountain from a "hold" rating to a "sell" rating in a report on Tuesday, January 28th. Finally, BNP Paribas upgraded Iron Mountain to a "strong-buy" rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $127.67.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mithu Bhargava sold 8,263 shares of the company's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 162,391 shares of company stock valued at $16,805,912 in the last quarter. Corporate insiders own 2.10% of the company's stock.

About Iron Mountain

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.