D.A. Davidson & CO. Purchases 2,762 Shares of Iron Mountain Incorporated (NYSE:IRM)

D.A. Davidson & CO. raised its position in Iron Mountain Incorporated (NYSE:IRM) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,523 shares of the financial services provider’s stock after purchasing an additional 2,762 shares during the quarter. D.A. Davidson & CO.’s holdings in Iron Mountain were worth $3,103,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. CIBC Asset Management Inc raised its position in shares of Iron Mountain by 4.5% during the fourth quarter. CIBC Asset Management Inc now owns 44,952 shares of the financial services provider’s stock worth $4,725,000 after acquiring an additional 1,937 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Iron Mountain by 17.9% during the fourth quarter. Principal Financial Group Inc. now owns 415,368 shares of the financial services provider’s stock worth $43,659,000 after acquiring an additional 62,917 shares during the last quarter. Csenge Advisory Group raised its position in shares of Iron Mountain by 5.1% during the fourth quarter. Csenge Advisory Group now owns 11,874 shares of the financial services provider’s stock worth $1,248,000 after acquiring an additional 574 shares during the last quarter. Secured Retirement Advisors LLC raised its position in shares of Iron Mountain by 6.5% during the fourth quarter. Secured Retirement Advisors LLC now owns 1,967 shares of the financial services provider’s stock worth $207,000 after acquiring an additional 120 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of Iron Mountain by 1.9% during the fourth quarter. Allworth Financial LP now owns 64,350 shares of the financial services provider’s stock worth $7,077,000 after acquiring an additional 1,209 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on IRM shares. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Wells Fargo & Company lowered their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, Barclays decreased their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.67.

Iron Mountain Price Performance

NYSE IRM opened at $93.39 on Friday. Iron Mountain Incorporated has a one year low of $67.89 and a one year high of $130.24. The business has a 50 day simple moving average of $103.91 and a 200 day simple moving average of $112.39. The stock has a market capitalization of $27.43 billion, a P/E ratio of 153.10, a P/E/G ratio of 5.19 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 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 firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the business posted $0.52 EPS. Equities analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is 468.85%.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 15,872 shares of Iron Mountain 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. Over the last quarter, insiders sold 162,391 shares of company stock valued at $16,805,912. Company 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.