Duff & Phelps Investment Management Co. Buys 5,705 Shares of Iron Mountain Incorporated (NYSE:IRM)

Duff & Phelps Investment Management Co. raised its position in Iron Mountain Incorporated (NYSE:IRM) by 0.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,246,311 shares of the financial services provider’s stock after purchasing an additional 5,705 shares during the period. Iron Mountain accounts for approximately 1.6% of Duff & Phelps Investment Management Co.’s portfolio, making the stock its 17th largest position. Duff & Phelps Investment Management Co. owned 0.42% of Iron Mountain worth $131,000,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Wealthfront Advisers LLC grew its holdings in Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock worth $721,562,000 after acquiring an additional 6,795,792 shares during the period. Norges Bank acquired a new stake in Iron Mountain during the fourth quarter worth approximately $348,249,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Iron Mountain by 537.0% in 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 purchasing an additional 2,672,821 shares in the last quarter. TD Asset Management Inc. lifted its stake in Iron Mountain by 125.4% in the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock valued at $205,220,000 after buying an additional 1,086,308 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Iron Mountain during the 4th quarter worth approximately $55,271,000. 80.13% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the sale, the chief accounting officer now owns 288 shares of the company’s stock, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. Insiders have sold a total of 318,979 shares of company stock valued at $30,666,904 over the last quarter. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Barclays cut their target price 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. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Saturday, March 22nd. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company lowered their target price 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. 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 data from MarketBeat, Iron Mountain presently has an average rating of “Buy” and a consensus price target of $125.67.

Iron Mountain Stock Performance

NYSE:IRM opened at $85.54 on Friday. The firm has a market cap of $25.13 billion, a price-to-earnings ratio of 140.23, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24. The firm has a 50-day moving average price of $95.45 and a two-hundred day moving average price of $108.57.

Iron Mountain (NYSE:IRM) last issued 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 for the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter in the previous year, the business earned $0.52 EPS. As a group, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a $0.785 dividend. This is an increase 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 annualized dividend and a dividend yield of 3.67%. Iron Mountain’s dividend payout ratio (DPR) is presently 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.