Iron Mountain Incorporated (NYSE:IRM) Shares Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 17.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 30,387 shares of the financial services provider’s stock after acquiring an additional 4,511 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Iron Mountain were worth $3,194,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Wealthfront Advisers LLC grew its position 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 worth $721,562,000 after purchasing an additional 6,795,792 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Iron Mountain by 537.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after buying an additional 2,672,821 shares during the period. TD Asset Management Inc. grew its holdings 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 buying 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 valued at approximately $55,271,000. Finally, Cbre Investment Management Listed Real Assets LLC raised its stake in 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 valued at $56,867,000 after acquiring an additional 331,536 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on IRM shares. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday, March 22nd. Wells Fargo & Company lowered 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. JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Finally, Barclays lowered 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 note on Thursday, March 20th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $125.67.

Iron Mountain Price Performance

Shares of IRM opened at $85.07 on Friday. Iron Mountain Incorporated has a 12-month low of $73.53 and a 12-month high of $130.24. The stock has a market capitalization of $24.99 billion, a P/E ratio of 139.46, a P/E/G ratio of 5.15 and a beta of 1.04. The firm’s 50 day moving average is $94.97 and its 200-day moving average is $108.39.

Iron Mountain (NYSE:IRM) last posted 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). The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period in the prior year, the company posted $0.52 EPS. As a group, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a $0.785 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.69%. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

Insider Buying and Selling

In related news, EVP Mithu Bhargava sold 1,738 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 $161,355.92. Following the completion of the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. This represents a 11.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,131 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 318,979 shares of company stock valued at $30,666,904. 2.10% of the stock is owned by corporate 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.