Dorsey Wright & Associates Decreases Stake in Iron Mountain Incorporated (NYSE:IRM)

Dorsey Wright & Associates decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 21,641 shares of the financial services provider’s stock after selling 300 shares during the quarter. Dorsey Wright & Associates’ holdings in Iron Mountain were worth $2,275,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Geode Capital Management LLC grew its stake in Iron Mountain by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock valued at $978,479,000 after acquiring an additional 128,622 shares in the last quarter. Wealthfront Advisers LLC grew its position in shares of Iron Mountain by 9,843.3% in the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock valued at $721,562,000 after purchasing an additional 6,795,792 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Iron Mountain by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider’s stock valued at $365,656,000 after purchasing an additional 92,475 shares during the last quarter. Norges Bank purchased a new position in Iron Mountain during the fourth quarter worth approximately $348,249,000. Finally, TD Asset Management Inc. boosted its stake in Iron Mountain by 125.4% during the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock worth $205,220,000 after buying an additional 1,086,308 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 172,552 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the sale, the chief executive officer now directly owns 237,402 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction 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 $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 318,979 shares of company stock worth $30,666,904 in the last ninety days. 2.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday, March 22nd. Wells Fargo & Company dropped their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Barclays reduced their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. cut 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, February 18th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $125.67.

Iron Mountain Stock Down 0.5 %

Shares of NYSE IRM opened at $85.07 on Friday. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24. The business’s 50 day moving average is $94.97 and its two-hundred day moving average is $108.35. The firm has a market cap of $24.99 billion, a price-to-earnings ratio of 139.46, a PEG 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 the consensus estimate of $1.20 by ($0.70). The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $0.52 EPS. Analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm 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 dividend of $0.785 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio is presently 514.75%.

Iron Mountain Company 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.