Financial Sense Advisors Inc. Purchases New Stake in Iron Mountain Incorporated (NYSE:IRM)

Financial Sense Advisors Inc. acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 2,216 shares of the financial services provider’s stock, valued at approximately $233,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of 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 worth $978,479,000 after buying an additional 128,622 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Iron Mountain by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock valued at $402,396,000 after acquiring an additional 141,675 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Iron Mountain by 537.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after acquiring an additional 2,672,821 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Iron Mountain by 5.2% during the third quarter. Captrust Financial Advisors now owns 951,552 shares of the financial services provider’s stock worth $113,073,000 after acquiring an additional 47,327 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Iron Mountain by 1.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 910,723 shares of the financial services provider’s stock valued at $95,726,000 after purchasing an additional 10,160 shares during the last quarter. 80.13% of the stock is owned by institutional investors.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, 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 transaction of $1,793,377.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 162,391 shares of company stock valued at $16,805,912 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Iron Mountain Trading Down 1.6 %

Shares of NYSE IRM opened at $92.69 on Thursday. Iron Mountain Incorporated has a 1-year low of $67.09 and a 1-year high of $130.24. The firm’s 50-day moving average price is $104.30 and its 200-day moving average price is $112.52. The firm has a market capitalization of $27.20 billion, a P/E ratio of 151.96, a P/E/G ratio of 5.25 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period last year, the business posted $0.52 earnings per share. Equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders 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. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.39%. Iron Mountain’s dividend payout ratio is presently 468.85%.

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.