iA Global Asset Management Inc. Makes New $1.10 Million Investment in Iron Mountain Incorporated (NYSE:IRM)

iA Global Asset Management Inc. acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 10,505 shares of the financial services provider’s stock, valued at approximately $1,104,000.

Several other institutional investors also recently bought and sold shares of IRM. Empowered Funds LLC increased its holdings in shares of Iron Mountain by 3.2% in the 3rd quarter. Empowered Funds LLC now owns 13,482 shares of the financial services provider’s stock valued at $1,602,000 after acquiring an additional 414 shares during the period. Caprock Group LLC increased its holdings in shares of Iron Mountain by 26.3% in the 3rd quarter. Caprock Group LLC now owns 5,049 shares of the financial services provider’s stock valued at $605,000 after acquiring an additional 1,051 shares during the period. Prospera Financial Services Inc increased its holdings in shares of Iron Mountain by 11.3% in the 3rd quarter. Prospera Financial Services Inc now owns 2,808 shares of the financial services provider’s stock valued at $334,000 after acquiring an additional 285 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Iron Mountain in the 3rd quarter valued at $2,739,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Iron Mountain by 2.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after acquiring an additional 1,446 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IRM. JPMorgan Chase & Co. cut their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research report on Saturday. Barclays lowered their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday. Royal Bank of Canada raised their price objective 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, Wells Fargo & Company lowered their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $125.67.

Iron Mountain Stock Performance

Shares of IRM opened at $87.64 on Friday. The stock has a 50-day moving average of $96.89 and a two-hundred day moving average of $109.22. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24. The stock has a market cap of $25.74 billion, a P/E ratio of 143.67, a P/E/G ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last issued 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 firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the firm posted $0.52 EPS. Analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

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

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 stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares of the company’s stock, valued at $26,737.92. The trade was a 95.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the business’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 transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 327,242 shares of company stock valued at $31,530,305 in the last quarter. 2.10% of the stock is currently owned by company insiders.

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.