New York Life Investment Management LLC Buys 195 Shares of Iron Mountain Incorporated (NYSE:IRM)

New York Life Investment Management LLC raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,791 shares of the financial services provider’s stock after purchasing an additional 195 shares during the quarter. New York Life Investment Management LLC’s holdings in Iron Mountain were worth $4,603,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Key Financial Inc grew its stake in Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 251 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Iron Mountain in the third quarter valued at approximately $31,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Iron Mountain during the 3rd quarter worth approximately $36,000. Dunhill Financial LLC boosted its stake in shares of Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 152 shares during the period. Finally, Quarry LP boosted its stake in shares of Iron Mountain by 86.5% during the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 230 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Iron Mountain Trading Up 1.6 %

NYSE:IRM opened at $93.15 on Friday. The stock has a market cap of $27.36 billion, a P/E ratio of 152.70, a PEG ratio of 5.15 and a beta of 1.01. The stock has a 50 day simple moving average of $102.11 and a 200 day simple moving average of $111.78. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year 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 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). The firm 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 period in the previous year, the business posted $0.52 earnings per share. As a group, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders 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 3.37%. Iron Mountain’s payout ratio is currently 514.75%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 162,391 shares of company stock valued at $16,805,912 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IRM. Wells Fargo & Company reduced their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday. Barclays reduced their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. reduced their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price 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.