Iron Mountain Incorporated (NYSE:IRM) Shares Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI increased its stake in Iron Mountain Incorporated (NYSE:IRM) by 16.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,280 shares of the financial services provider’s stock after acquiring an additional 329 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Iron Mountain were worth $237,000 at the end of the most recent quarter.

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

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $88.38 on Thursday. The stock has a 50-day simple moving average of $101.46 and a 200-day simple moving average of $111.56. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24. The firm has a market cap of $25.96 billion, a price-to-earnings ratio of 144.88, a P/E/G ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) 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 earned $0.52 earnings per share. As a group, equities research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be given a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.55%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio is presently 514.75%.

Insider Buying and Selling at Iron Mountain

In related news, CAO Daniel Borges sold 6,433 shares of the firm’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. This trade represents a 95.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 15,872 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. Insiders have sold a total of 343,114 shares of company stock worth $33,323,682 over the last three months. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IRM shares. Royal Bank of Canada increased their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company lowered their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. reduced 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. Finally, StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $127.67.

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.