Iron Mountain Incorporated (NYSE:IRM) Position Boosted by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,831 shares of the financial services provider’s stock after purchasing an additional 4,140 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Iron Mountain were worth $8,181,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Xponance Inc. boosted its position in shares of Iron Mountain by 2.9% during the 4th quarter. Xponance Inc. now owns 98,398 shares of the financial services provider’s stock valued at $10,343,000 after purchasing an additional 2,735 shares in the last quarter. Intech Investment Management LLC boosted its holdings in shares of Iron Mountain by 99.9% in the fourth quarter. Intech Investment Management LLC now owns 420,200 shares of the financial services provider’s stock worth $44,167,000 after buying an additional 210,045 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Iron Mountain by 3.8% in the fourth quarter. Advisors Asset Management Inc. now owns 65,760 shares of the financial services provider’s stock worth $6,912,000 after buying an additional 2,384 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Iron Mountain by 65.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 113,596 shares of the financial services provider’s stock worth $12,197,000 after buying an additional 44,911 shares during the period. Finally, Axxcess Wealth Management LLC boosted its holdings in shares of Iron Mountain by 39.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 18,413 shares of the financial services provider’s stock worth $1,935,000 after buying an additional 5,208 shares during the period. Institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on IRM shares. Wells Fargo & Company decreased their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Friday, March 14th. Barclays decreased their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Finally, Royal Bank of Canada raised their price target 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. One analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.67.

Iron Mountain Stock Performance

Shares of IRM opened at $87.56 on Wednesday. The firm has a market cap of $25.72 billion, a PE ratio of 143.54, a PEG ratio of 5.15 and a beta of 1.04. The firm’s 50 day moving average price is $97.73 and its 200 day moving average price is $109.69. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24.

Iron Mountain (NYSE:IRM) last released 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 net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the business earned $0.52 EPS. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed 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 is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.59%. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Insider Transactions at Iron Mountain

In other news, EVP Mithu Bhargava sold 1,738 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the firm’s 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 in the company, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 327,242 shares of company stock worth $31,530,305. Insiders own 2.10% of the company’s stock.

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.