Ranch Capital Advisors Inc. Has $3.49 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Ranch Capital Advisors Inc. trimmed its holdings in Iron Mountain Incorporated (NYSE:IRM) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,063 shares of the financial services provider’s stock after selling 420 shares during the period. Iron Mountain comprises about 1.6% of Ranch Capital Advisors Inc.’s investment portfolio, making the stock its 15th largest holding. Ranch Capital Advisors Inc.’s holdings in Iron Mountain were worth $3,493,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of IRM. Principal Financial Group Inc. raised its holdings in Iron Mountain by 3.4% during the third quarter. Principal Financial Group Inc. now owns 352,451 shares of the financial services provider’s stock worth $41,882,000 after acquiring an additional 11,685 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in Iron Mountain in the third quarter valued at approximately $240,000. Verdence Capital Advisors LLC raised its stake in Iron Mountain by 63.3% in the third quarter. Verdence Capital Advisors LLC now owns 7,030 shares of the financial services provider’s stock valued at $835,000 after buying an additional 2,726 shares during the period. Assetmark Inc. raised its stake in Iron Mountain by 12.8% in the third quarter. Assetmark Inc. now owns 48,535 shares of the financial services provider’s stock valued at $5,767,000 after buying an additional 5,502 shares during the period. Finally, Axxcess Wealth Management LLC raised its stake in Iron Mountain by 13.5% in the third quarter. Axxcess Wealth Management LLC now owns 13,205 shares of the financial services provider’s stock valued at $1,569,000 after buying an additional 1,566 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Trading Up 1.7 %

Shares of IRM stock opened at $84.21 on Monday. The business’s 50-day moving average price is $100.25 and its 200-day moving average price is $111.02. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24. The firm has a market capitalization of $24.74 billion, a price-to-earnings ratio of 138.05, a PEG 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). The business had revenue of $1.58 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $0.52 EPS. On average, sell-side analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.73%. Iron Mountain’s dividend payout ratio is presently 514.75%.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the sale, the chief executive officer now owns 237,402 shares in the company, valued at $21,681,924.66. The trade was a 42.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 15,872 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 343,114 shares of company stock worth $33,323,682. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IRM. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Royal Bank of Canada increased their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company decreased 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 report on Tuesday, February 4th. Finally, Barclays decreased their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. One equities research 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 stock. According to MarketBeat.com, Iron Mountain currently has an average rating of “Buy” and a consensus price target of $127.67.

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.