Thrivent Financial for Lutherans Purchases 44,911 Shares of Iron Mountain Incorporated (NYSE:IRM)

Thrivent Financial for Lutherans increased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 65.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 113,596 shares of the financial services provider’s stock after buying an additional 44,911 shares during the period. Thrivent Financial for Lutherans’ holdings in Iron Mountain were worth $12,197,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IRM. Wealthfront Advisers LLC boosted its holdings in shares of Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock worth $721,562,000 after buying an additional 6,795,792 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in 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 valued at $376,756,000 after purchasing an additional 2,672,821 shares during the period. Raymond James Financial Inc. bought a new stake in Iron Mountain in the 4th quarter valued at $55,271,000. Cbre Investment Management Listed Real Assets LLC boosted its holdings in Iron Mountain by 158.3% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 541,028 shares of the financial services provider’s stock valued at $56,867,000 after purchasing an additional 331,536 shares during the period. Finally, Aew Capital Management L P boosted its holdings in Iron Mountain by 55.6% in the 4th quarter. Aew Capital Management L P now owns 678,887 shares of the financial services provider’s stock valued at $71,358,000 after purchasing an additional 242,490 shares during the period. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Performance

Shares of IRM stock opened at $87.64 on Friday. The stock has a market cap of $25.74 billion, a price-to-earnings ratio of 143.67, a P/E/G ratio of 5.15 and a beta of 1.04. The firm has a fifty day moving average of $96.89 and a 200-day moving average of $109.22. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24.

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

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.58%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

Analysts Set New Price Targets

IRM has been the subject of a number of research reports. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday. Barclays reduced their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday. Wells Fargo & Company reduced their price target 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. Royal Bank of Canada increased their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $125.67.

Insider Buying and Selling

In other Iron Mountain news, 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 completion of the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. Insiders sold 327,242 shares of company stock worth $31,530,305 in the last quarter. 2.10% of the stock is owned by corporate insiders.

About Iron Mountain

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.