American Century Companies Inc. Cuts Stake in Iron Mountain Incorporated (NYSE:IRM)

American Century Companies Inc. cut its position in Iron Mountain Incorporated (NYSE:IRM) by 22.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 625,395 shares of the financial services provider’s stock after selling 178,279 shares during the period. American Century Companies Inc. owned approximately 0.21% of Iron Mountain worth $65,735,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of IRM. IMG Wealth Management Inc. purchased a new position in Iron Mountain in the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Iron Mountain during the fourth quarter valued at $26,000. Key Financial Inc boosted its position in shares of Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after buying an additional 251 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain in the 3rd quarter worth about $36,000. Finally, Dunhill Financial LLC raised its position in Iron Mountain by 50.5% in the 3rd 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 last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

NYSE:IRM opened at $87.84 on Wednesday. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24. The business has a fifty day moving average price of $96.32 and a 200-day moving average price of $108.88. The firm has a market capitalization of $25.80 billion, a price-to-earnings ratio of 144.00, a price-to-earnings-growth 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 company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the company earned $0.52 EPS. On average, equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share 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 issued a dividend of $0.785 per share. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.57%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is currently 514.75%.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the sale, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Daniel Borges sold 6,433 shares of the company’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 directly owns 288 shares of the company’s stock, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 318,979 shares of company stock worth $30,666,904 over the last three months. 2.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

IRM has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target 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. Royal Bank of Canada raised their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Barclays decreased 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 note on Thursday, March 20th. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. reduced their price objective 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. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $125.67.

Iron Mountain Company 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.