Advisors Asset Management Inc. Has $6.91 Million Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Advisors Asset Management Inc. boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 65,760 shares of the financial services provider’s stock after buying an additional 2,384 shares during the quarter. Advisors Asset Management Inc.’s holdings in Iron Mountain were worth $6,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of IRM. Geode Capital Management LLC raised its position 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 valued at $978,479,000 after buying an additional 128,622 shares during the last quarter. Wealthfront Advisers LLC increased its stake in Iron Mountain by 9,843.3% during the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock valued at $721,562,000 after acquiring an additional 6,795,792 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Iron Mountain by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider’s stock valued at $365,656,000 after acquiring an additional 92,475 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Iron Mountain by 537.0% in the 3rd 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 period. Finally, Captrust Financial Advisors grew its holdings in shares of Iron Mountain by 5.2% during the 3rd quarter. Captrust Financial Advisors now owns 951,552 shares of the financial services provider’s stock worth $113,073,000 after purchasing an additional 47,327 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Down 1.8 %

NYSE:IRM opened at $87.56 on Wednesday. The firm has a market cap of $25.72 billion, a PE ratio of 143.54, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. The company’s 50-day moving average price is $97.73 and its two-hundred day moving average price is $109.69. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.60 billion. During the same quarter last year, the company earned $0.52 earnings per share. On average, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm 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. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.59%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s payout ratio is currently 514.75%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barclays cut their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company reduced their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. dropped 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. Finally, Royal Bank of Canada lifted their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and an average price target of $127.67.

Insider Buying and Selling

In other news, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William L. Meaney sold 69,131 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. Insiders have sold a total of 327,242 shares of company stock worth $31,530,305 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

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.