Advisory Services Network LLC Purchases 1,575 Shares of Iron Mountain Incorporated (NYSE:IRM)

Advisory Services Network LLC increased its position in Iron Mountain Incorporated (NYSE:IRM) by 5.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 28,296 shares of the financial services provider’s stock after buying an additional 1,575 shares during the quarter. Advisory Services Network LLC’s holdings in Iron Mountain were worth $2,974,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of IRM. Geode Capital Management LLC raised its stake in shares of Iron Mountain by 1.6% during the third quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock worth $978,479,000 after acquiring an additional 128,622 shares in the last quarter. Wealthfront Advisers LLC raised its position in Iron Mountain by 9,843.3% in the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock worth $721,562,000 after purchasing an additional 6,795,792 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in 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 worth $365,656,000 after purchasing an additional 92,475 shares during the last quarter. Norges Bank purchased a new stake in Iron Mountain during the fourth quarter valued at about $348,249,000. Finally, Invesco Ltd. grew its stake in shares of Iron Mountain by 17.2% during the fourth quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider’s stock valued at $260,969,000 after buying an additional 363,783 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Down 3.5 %

Shares of Iron Mountain stock opened at $81.52 on Friday. Iron Mountain Incorporated has a 12-month low of $72.33 and a 12-month high of $130.24. The company has a market cap of $23.95 billion, a P/E ratio of 133.64, a PEG ratio of 5.15 and a beta of 0.97. The company’s fifty day simple moving average is $89.84 and its two-hundred day simple moving average is $105.78.

Iron Mountain (NYSE:IRM) last announced its quarterly 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). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. Analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IRM shares. JPMorgan Chase & Co. lowered 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. Barclays lowered their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Truist Financial started coverage on shares of Iron Mountain in a research note on Tuesday. They issued a “buy” rating and a $95.00 target price on the stock. 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 report on Tuesday, February 4th. Finally, StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $121.29.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 318,973 shares of company stock worth $29,370,872 over the last ninety days. 2.10% of the stock is owned by corporate 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.