Cerity Partners LLC Has $3.63 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

Cerity Partners LLC raised its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 11.8% in the fourth quarter, HoldingsChannel reports. The fund owned 32,836 shares of the financial services provider’s stock after acquiring an additional 3,474 shares during the period. Cerity Partners LLC’s holdings in Iron Mountain were worth $3,625,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Wealthfront Advisers LLC grew its holdings in Iron Mountain by 9,843.3% in the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock valued at $721,562,000 after buying an additional 6,795,792 shares in the last quarter. Norges Bank acquired a new position in shares of Iron Mountain in the fourth quarter valued at about $348,249,000. TD Asset Management Inc. raised its stake in Iron Mountain by 125.4% in the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock worth $205,220,000 after purchasing an additional 1,086,308 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Iron Mountain in the 4th quarter worth about $55,271,000. Finally, Cbre Investment Management Listed Real Assets LLC grew its position in shares of Iron Mountain by 158.3% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 541,028 shares of the financial services provider’s stock worth $56,867,000 after purchasing an additional 331,536 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IRM. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, April 8th. JPMorgan Chase & Co. cut their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Wells Fargo & Company decreased their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Truist Financial started coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They set a “buy” rating and a $95.00 price objective for the company. Finally, Barclays dropped their target price on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $121.29.

Insider Activity at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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 directly owns 288 shares in the company, valued at approximately $26,737.92. This represents a 95.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total transaction of $5,952,353.75. The disclosure for this sale can be found here. Insiders sold a total of 318,973 shares of company stock worth $29,370,872 in the last quarter. 2.10% of the stock is owned by insiders.

Iron Mountain Price Performance

IRM stock opened at $83.39 on Monday. The stock has a market cap of $24.50 billion, a price-to-earnings ratio of 136.71, a P/E/G ratio of 5.15 and a beta of 0.97. The company has a 50 day simple moving average of $89.48 and a 200 day simple moving average of $105.45. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year 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 earnings per share (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 company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the company posted $0.52 earnings per share. On average, equities research analysts anticipate 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 was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were issued a dividend of $0.785 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend was Monday, March 17th. Iron Mountain’s payout ratio is 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.