Ranch Capital Advisors Inc. Has $3.49 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Ranch Capital Advisors Inc. decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 33,063 shares of the financial services provider’s stock after selling 420 shares during the period. Iron Mountain comprises approximately 1.6% of Ranch Capital Advisors Inc.’s holdings, making the stock its 15th largest position. Ranch Capital Advisors Inc.’s holdings in Iron Mountain were worth $3,493,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of IRM. Key Financial Inc raised its holdings in shares of Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Iron Mountain in the fourth quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of Iron Mountain in the third quarter valued at about $31,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Iron Mountain in the third quarter valued at about $36,000. Finally, Dunhill Financial LLC raised its holdings in shares of Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 152 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In other news, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares in the company, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,872 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 343,114 shares of company stock worth $33,323,682 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IRM. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Barclays cut their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Royal Bank of Canada increased their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Finally, Wells Fargo & Company cut their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Iron Mountain presently has an average rating of “Buy” and a consensus target price of $127.67.

Iron Mountain Price Performance

Shares of IRM opened at $84.21 on Monday. The firm’s 50 day simple moving average is $100.25 and its 200 day simple moving average is $111.02. The company has a market capitalization of $24.74 billion, a P/E ratio of 138.05, a P/E/G ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24.

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

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.73%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is 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.