Iron Mountain Incorporated (NYSE:IRM) Shares Bought by Candriam S.C.A.

Candriam S.C.A. raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 207.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 77,097 shares of the financial services provider’s stock after buying an additional 52,061 shares during the quarter. Candriam S.C.A.’s holdings in Iron Mountain were worth $8,104,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Key Financial Inc increased its holdings in Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC acquired a new position in Iron Mountain in the fourth quarter valued at about $26,000. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain during the third quarter worth about $31,000. Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain during the third quarter worth about $36,000. Finally, Dunhill Financial LLC increased its stake in shares of Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after buying an additional 152 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Trading Up 1.7 %

Iron Mountain stock opened at $84.21 on Friday. The firm has a market capitalization of $24.74 billion, a P/E ratio of 138.05, a PEG ratio of 5.15 and a beta of 1.04. The stock has a fifty day moving average price of $100.66 and a 200 day moving average price of $111.20. 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 quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS 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 for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. As a group, equities analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a $0.785 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.73%. Iron Mountain’s dividend payout ratio is presently 514.75%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company cut their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Barclays decreased their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Royal Bank of Canada boosted their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. cut their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. One investment 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 stock. According to MarketBeat, Iron Mountain currently has an average rating of “Buy” and an average price target of $127.67.

Insider Transactions at Iron Mountain

In other Iron Mountain news, 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 transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,211,933.36. This trade represents a 11.75 % 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 15,872 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. Insiders sold 343,114 shares of company stock valued at $33,323,682 over the last quarter. Company insiders own 2.10% of the company’s stock.

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.