Bank of New York Mellon Corp Has $213.89 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Bank of New York Mellon Corp lowered its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,034,912 shares of the financial services provider’s stock after selling 43,488 shares during the quarter. Bank of New York Mellon Corp owned 0.69% of Iron Mountain worth $213,890,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of IRM. Assenagon Asset Management S.A. increased its position in shares of Iron Mountain by 0.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock valued at $1,351,000 after buying an additional 92 shares in the last quarter. Arkadios Wealth Advisors grew its stake in Iron Mountain by 6.0% in the third quarter. Arkadios Wealth Advisors now owns 2,812 shares of the financial services provider’s stock valued at $334,000 after acquiring an additional 158 shares during the period. Diversify Advisory Services LLC increased its holdings in shares of Iron Mountain by 15.9% in the third quarter. Diversify Advisory Services LLC now owns 7,942 shares of the financial services provider’s stock worth $984,000 after acquiring an additional 1,091 shares in the last quarter. Fidelis Capital Partners LLC raised its position in shares of Iron Mountain by 180.7% during the third quarter. Fidelis Capital Partners LLC now owns 5,935 shares of the financial services provider’s stock worth $745,000 after purchasing an additional 3,821 shares during the period. Finally, Goldstone Financial Group LLC bought a new position in shares of Iron Mountain during the 3rd quarter valued at about $540,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $91.64 on Friday. The company’s 50-day moving average price is $102.35 and its two-hundred day moving average price is $111.89. Iron Mountain Incorporated has a one year low of $73.45 and a one year high of $130.24. The stock has a market capitalization of $26.92 billion, a PE ratio of 150.23, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01.

Iron Mountain (NYSE:IRM) 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. On average, analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be paid a $0.785 dividend. The ex-dividend date is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.43%. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Analyst Ratings Changes

Several analysts have commented on the stock. Barclays dropped their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada upped their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company cut their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $127.67.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 162,391 shares of company stock worth $16,805,912. Insiders own 2.10% of the company’s stock.

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.