Iron Mountain Incorporated (NYSE:IRM) Position Lifted by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 191,305 shares of the financial services provider’s stock after purchasing an additional 9,951 shares during the quarter. Iron Mountain makes up about 1.3% of Knights of Columbus Asset Advisors LLC’s investment portfolio, making the stock its 9th biggest position. Knights of Columbus Asset Advisors LLC’s holdings in Iron Mountain were worth $20,108,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Wealthfront Advisers LLC increased its holdings in shares of Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock worth $721,562,000 after buying an additional 6,795,792 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Iron Mountain by 537.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after buying an additional 2,672,821 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Iron Mountain in the 4th quarter valued at $55,271,000. Cbre Investment Management Listed Real Assets LLC increased its holdings in Iron Mountain by 158.3% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 541,028 shares of the financial services provider’s stock valued at $56,867,000 after purchasing an additional 331,536 shares in the last quarter. Finally, Aew Capital Management L P increased its holdings in Iron Mountain by 55.6% in the 4th quarter. Aew Capital Management L P now owns 678,887 shares of the financial services provider’s stock valued at $71,358,000 after purchasing an additional 242,490 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the firm’s stock in a transaction dated 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Daniel Borges sold 6,433 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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 $26,737.92. The trade was a 95.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 327,242 shares of company stock valued at $31,530,305 over the last quarter. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

IRM has been the subject of several recent research reports. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday. Royal Bank of Canada increased their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Barclays lowered their price target on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday. JPMorgan Chase & Co. lowered 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. Finally, 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 research note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Buy” and an average target price of $125.67.

Iron Mountain Stock Performance

Shares of IRM stock opened at $87.64 on Friday. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24. The company’s 50-day simple moving average is $96.89 and its 200-day simple moving average is $109.22. The stock has a market capitalization of $25.74 billion, a price-to-earnings ratio of 143.67, 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 the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company 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 business posted $0.52 EPS. As a group, research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a dividend of $0.785 per share. This is a boost 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 3.58%. Iron Mountain’s dividend payout ratio (DPR) is presently 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.