Douglas Lane & Associates LLC Takes Position in Iron Mountain Incorporated (NYSE:IRM)

Douglas Lane & Associates LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRMFree Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,944 shares of the financial services provider’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Thompson Investment Management Inc. increased its holdings in Iron Mountain by 33.0% during the fourth quarter. Thompson Investment Management Inc. now owns 1,064 shares of the financial services provider’s stock worth $74,000 after buying an additional 264 shares during the last quarter. CVA Family Office LLC acquired a new position in Iron Mountain during the fourth quarter worth $32,000. Herbst Group LLC boosted its position in Iron Mountain by 11.5% during the fourth quarter. Herbst Group LLC now owns 13,600 shares of the financial services provider’s stock worth $952,000 after purchasing an additional 1,400 shares during the period. Twelve Points Wealth Management LLC boosted its position in Iron Mountain by 1.2% during the fourth quarter. Twelve Points Wealth Management LLC now owns 39,228 shares of the financial services provider’s stock worth $2,745,000 after purchasing an additional 466 shares during the period. Finally, Redhawk Wealth Advisors Inc. boosted its position in Iron Mountain by 19.9% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 12,152 shares of the financial services provider’s stock worth $850,000 after purchasing an additional 2,019 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on IRM. TheStreet cut shares of Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Stifel Nicolaus boosted their target price on shares of Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Wells Fargo & Company boosted their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, Barclays boosted their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.80.

View Our Latest Analysis on Iron Mountain

Iron Mountain Trading Down 0.2 %

Shares of Iron Mountain stock opened at $78.00 on Wednesday. The company has a market capitalization of $22.80 billion, a price-to-earnings ratio of 123.81, a PEG ratio of 4.70 and a beta of 0.94. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. Iron Mountain Incorporated has a 12-month low of $49.61 and a 12-month high of $82.19. The firm’s 50-day moving average price is $73.05 and its two-hundred day moving average price is $66.71.

Iron Mountain (NYSE:IRMGet Free Report) last posted its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.45 billion. Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company posted $0.98 EPS. On average, analysts forecast that Iron Mountain Incorporated will post 4.16 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Friday, March 15th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.33%. Iron Mountain’s dividend payout ratio (DPR) is currently 412.70%.

Insider Transactions at Iron Mountain

In related news, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the transaction, the chief accounting officer now owns 3,095 shares in the company, valued at approximately $247,600. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the transaction, the chief accounting officer now owns 3,095 shares in the company, valued at approximately $247,600. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 115,979 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $78.90, for a total transaction of $9,150,743.10. Following the completion of the transaction, the chief executive officer now owns 432,682 shares of the company’s stock, valued at approximately $34,138,609.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 171,983 shares of company stock valued at $13,030,171. 2.20% of the stock is currently owned by insiders.

Iron Mountain Company Profile

(Free Report)

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management, innovative storage, data center infrastructure, and asset lifecycle management. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work.

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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