DnB Asset Management AS Boosts Holdings in Iron Mountain Incorporated (NYSE:IRM)

DnB Asset Management AS lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,585 shares of the financial services provider’s stock after acquiring an additional 2,919 shares during the period. DnB Asset Management AS’s holdings in Iron Mountain were worth $5,527,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IRM. Dynamic Technology Lab Private Ltd acquired a new position in shares of Iron Mountain in the 3rd quarter valued at $271,000. The Manufacturers Life Insurance Company boosted its holdings in Iron Mountain by 2.0% in the third quarter. The Manufacturers Life Insurance Company now owns 209,648 shares of the financial services provider’s stock valued at $24,912,000 after acquiring an additional 4,150 shares during the last quarter. Townsquare Capital LLC grew its position in Iron Mountain by 72.9% during the third quarter. Townsquare Capital LLC now owns 10,129 shares of the financial services provider’s stock valued at $1,204,000 after acquiring an additional 4,271 shares during the period. CreativeOne Wealth LLC acquired a new stake in Iron Mountain during the third quarter worth about $358,000. Finally, Public Sector Pension Investment Board raised its holdings in shares of Iron Mountain by 25.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 51,128 shares of the financial services provider’s stock worth $6,076,000 after purchasing an additional 10,410 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Iron Mountain Trading Down 0.5 %

Shares of IRM stock opened at $85.07 on Monday. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24. The company has a market capitalization of $24.99 billion, a PE ratio of 139.46, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. The firm has a fifty day simple moving average of $94.97 and a 200-day simple moving average of $108.31.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. Equities research analysts predict that Iron Mountain Incorporated will post 4.54 EPS 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 $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.69%. 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 dividend payout ratio is presently 514.75%.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 172,552 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the transaction, the chief executive officer now owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. This trade represents a 42.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $6,900,748.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 318,979 shares of company stock valued at $30,666,904. 2.10% of the stock is currently owned by corporate insiders.

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.