Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 136,826 shares of the financial services provider’s stock after purchasing an additional 6,981 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Iron Mountain were worth $14,382,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in shares of Iron Mountain by 2.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after purchasing an additional 1,446 shares during the period. Merit Financial Group LLC boosted its position in shares of Iron Mountain by 91.5% in the 4th 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 in the last quarter. Tidal Investments LLC boosted its position in shares of Iron Mountain by 254.1% in the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after buying an additional 14,737 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Iron Mountain by 151.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after buying an additional 5,511 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Iron Mountain in the 3rd quarter worth about $24,122,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IRM has been the topic of several recent research reports. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. decreased their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Barclays decreased their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday. Royal Bank of Canada boosted their price objective 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 reduced their target price 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. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $125.67.

Insider Transactions at Iron Mountain

In other news, CAO Daniel Borges sold 6,433 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the transaction, the chief accounting officer now directly owns 288 shares in the company, valued at $26,737.92. This represents a 95.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their position. 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 three months. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Down 0.9 %

NYSE:IRM opened at $87.64 on Friday. The firm has a market cap of $25.74 billion, a price-to-earnings ratio of 143.67, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. The company’s 50-day moving average is $96.89 and its two-hundred day moving average is $109.19. Iron Mountain Incorporated has a 12-month low of $73.53 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data 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). The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $0.52 earnings per share. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders 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 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio is presently 514.75%.

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.