Mirae Asset Global Investments Co. Ltd. Buys 2,222 Shares of Iron Mountain Incorporated (NYSE:IRM)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 347,566 shares of the financial services provider’s stock after purchasing an additional 2,222 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.12% of Iron Mountain worth $24,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Harbor Investment Advisory LLC lifted its position in Iron Mountain by 92.2% during the third quarter. Harbor Investment Advisory LLC now owns 417 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. Manchester Capital Management LLC lifted its holdings in shares of Iron Mountain by 6,983.3% in the 3rd quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 419 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Iron Mountain by 201.7% in the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 242 shares during the last quarter. First Capital Advisors Group LLC. bought a new stake in shares of Iron Mountain in the 2nd quarter worth approximately $25,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Iron Mountain in the 4th quarter worth approximately $26,000. 80.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Iron Mountain Trading Up 0.1 %

NYSE:IRM opened at $78.74 on Tuesday. The company has a fifty day moving average of $75.25 and a 200 day moving average of $67.75. Iron Mountain Incorporated has a 52 week low of $51.62 and a 52 week high of $82.19. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. The firm has a market capitalization of $23.01 billion, a P/E ratio of 124.99, a P/E/G ratio of 4.73 and a beta of 0.94.

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

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s payout ratio is currently 412.70%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 996 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $80.00, for a total transaction of $79,680.00. Following the transaction, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at approximately $247,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $78.48, for a total value of $156,960.00. Following the sale, the executive vice president now directly owns 65,286 shares of the company’s stock, valued at approximately $5,123,645.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Daniel Borges sold 996 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $80.00, for a total transaction of $79,680.00. Following the completion of the sale, the chief accounting officer now directly owns 3,095 shares in the company, valued at $247,600. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 148,249 shares of company stock valued at $11,480,926. 2.20% of the stock is currently owned by company insiders.

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.