Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in Iron Mountain Incorporated (NYSE:IRM) by 0.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,329,022 shares of the financial services provider’s stock after purchasing an additional 2,162 shares during the period. Pictet Asset Management Holding SA owned 0.79% of Iron Mountain worth $244,804,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. grew its position in shares of Iron Mountain by 4.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 474,591 shares of the financial services provider’s stock worth $49,884,000 after acquiring an additional 18,296 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in Iron Mountain by 0.5% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,246,311 shares of the financial services provider’s stock worth $131,000,000 after purchasing an additional 5,705 shares during the period. New Age Alpha Advisors LLC acquired a new position in Iron Mountain in the fourth quarter worth $5,858,000. Norges Bank bought a new stake in Iron Mountain during the fourth quarter valued at $348,249,000. Finally, BCO Wealth Management LLC acquired a new stake in shares of Iron Mountain during the fourth quarter worth $449,000. 80.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday, March 22nd. Wells Fargo & Company lowered their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. cut their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Finally, Barclays lowered their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $125.67.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 69,131 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William L. Meaney sold 172,552 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was 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 of the company’s stock, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 318,979 shares of company stock valued at $30,666,904. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Down 1.7 %

IRM opened at $85.54 on Friday. The business’s 50 day moving average is $95.45 and its 200-day moving average is $108.57. The stock has a market cap of $25.13 billion, a PE ratio of 140.23, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24.

Iron Mountain (NYSE:IRM) last announced its 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). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the firm earned $0.52 EPS. As a group, analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current 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 given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is currently 514.75%.

About Iron Mountain

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.