Duff & Phelps Investment Management Co. Purchases 5,705 Shares of Iron Mountain Incorporated (NYSE:IRM)

Duff & Phelps Investment Management Co. increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 0.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,246,311 shares of the financial services provider’s stock after acquiring an additional 5,705 shares during the period. Iron Mountain makes up approximately 1.6% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 17th biggest position. Duff & Phelps Investment Management Co.’s holdings in Iron Mountain were worth $131,000,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in IRM. Merit Financial Group LLC increased its holdings in shares of Iron Mountain by 91.5% in the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after buying an additional 7,137 shares during the period. Tidal Investments LLC grew its holdings in shares of Iron Mountain by 254.1% in the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after purchasing an additional 14,737 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock valued at $961,000 after buying an additional 5,511 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Iron Mountain during the third quarter valued at about $24,122,000. Finally, World Investment Advisors LLC purchased a new stake in Iron Mountain in the third quarter worth $554,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Down 1.7 %

NYSE IRM opened at $85.54 on Friday. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24. The company has a market capitalization of $25.13 billion, a P/E ratio of 140.23, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. The stock’s 50-day moving average price is $95.45 and its 200-day moving average price is $108.57.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share 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 firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the company posted $0.52 EPS. Research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday, March 22nd. Wells Fargo & Company dropped their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Barclays decreased their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. cut their target price 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. One 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. Based on data from MarketBeat, Iron Mountain currently has a consensus rating of “Buy” and a consensus target price of $125.67.

Insider Activity

In other news, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the sale, the chief accounting officer now directly owns 288 shares in the company, valued at $26,737.92. The trade was a 95.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 172,552 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the sale, the chief executive officer now owns 237,402 shares in the company, valued at $21,681,924.66. The trade was a 42.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 318,979 shares of company stock worth $30,666,904 over the last quarter. Insiders own 2.10% of the company’s stock.

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.