Bank of New York Mellon Corp Has $213.89 Million Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Bank of New York Mellon Corp lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,034,912 shares of the financial services provider’s stock after selling 43,488 shares during the quarter. Bank of New York Mellon Corp’s holdings in Iron Mountain were worth $213,890,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Iron Mountain by 537.0% in the third 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 valued at $376,756,000 after acquiring an additional 2,672,821 shares during the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of Iron Mountain by 2,193.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock valued at $61,613,000 after purchasing an additional 495,898 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Iron Mountain by 10,432.5% in the 4th quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 240,261 shares during the last quarter. KBC Group NV raised its holdings in shares of Iron Mountain by 368.4% during the 3rd quarter. KBC Group NV now owns 305,392 shares of the financial services provider’s stock worth $36,289,000 after buying an additional 240,195 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Iron Mountain during the 3rd quarter worth $26,429,000. Institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the business’s 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 transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 162,391 shares of company stock valued at $16,805,912. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $91.64 on Friday. The stock has a market cap of $26.92 billion, a P/E ratio of 150.23, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01. The firm has a 50 day moving average price of $102.35 and a two-hundred day moving average price of $111.89. Iron Mountain Incorporated has a 52-week low of $73.45 and a 52-week 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 (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 prior year, the business earned $0.52 earnings per share. Analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal 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 issued a $0.785 dividend. The ex-dividend date 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 3.43%. Iron Mountain’s dividend payout ratio is presently 514.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Royal Bank of Canada lifted their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Barclays dropped their price target 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. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $127.67.

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.