D.A. Davidson & CO. Acquires 2,762 Shares of Iron Mountain Incorporated (NYSE:IRM)

D.A. Davidson & CO. boosted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 10.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,523 shares of the financial services provider’s stock after acquiring an additional 2,762 shares during the period. D.A. Davidson & CO.’s holdings in Iron Mountain were worth $3,103,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. CIBC Asset Management Inc raised its stake in Iron Mountain by 4.5% in the 4th quarter. CIBC Asset Management Inc now owns 44,952 shares of the financial services provider’s stock valued at $4,725,000 after acquiring an additional 1,937 shares during the period. Principal Financial Group Inc. grew its holdings in Iron Mountain by 17.9% in the 4th quarter. Principal Financial Group Inc. now owns 415,368 shares of the financial services provider’s stock valued at $43,659,000 after buying an additional 62,917 shares in the last quarter. Csenge Advisory Group grew its holdings in Iron Mountain by 5.1% in the 4th quarter. Csenge Advisory Group now owns 11,874 shares of the financial services provider’s stock valued at $1,248,000 after buying an additional 574 shares in the last quarter. Secured Retirement Advisors LLC grew its holdings in Iron Mountain by 6.5% in the 4th quarter. Secured Retirement Advisors LLC now owns 1,967 shares of the financial services provider’s stock valued at $207,000 after buying an additional 120 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in Iron Mountain by 1.9% in the 4th quarter. Allworth Financial LP now owns 64,350 shares of the financial services provider’s stock valued at $7,077,000 after buying an additional 1,209 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

IRM opened at $93.39 on Friday. The firm has a market cap of $27.43 billion, a P/E ratio of 153.10, a price-to-earnings-growth ratio of 5.19 and a beta of 1.01. Iron Mountain Incorporated has a 52-week low of $67.89 and a 52-week high of $130.24. The business’s fifty day moving average is $103.91 and its 200-day moving average is $112.39.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data 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 business had revenue of $1.58 billion during the quarter, compared to analyst estimates 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 last year, the business earned $0.52 earnings per share. On average, research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be paid a $0.785 dividend. The ex-dividend date is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.36%. Iron Mountain’s dividend payout ratio (DPR) is 468.85%.

Wall Street Analyst Weigh In

IRM has been the topic of a number of research reports. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. decreased their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday. Royal Bank of Canada upped their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. Finally, Barclays reduced their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.67.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 69,131 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 162,391 shares of company stock valued at $16,805,912 over the last ninety days. 2.10% of the stock is owned by corporate insiders.

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.