Charles Schwab Investment Management Inc. Boosts Holdings in Iron Mountain Incorporated (NYSE:IRM)

Charles Schwab Investment Management Inc. increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,478,790 shares of the financial services provider’s stock after purchasing an additional 92,475 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Iron Mountain were worth $365,656,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC lifted its holdings in shares of Iron Mountain by 8.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 37,519 shares of the financial services provider’s stock valued at $3,944,000 after purchasing an additional 2,764 shares during the last quarter. Fidelis Capital Partners LLC lifted its stake in Iron Mountain by 4.7% in the fourth quarter. Fidelis Capital Partners LLC now owns 6,214 shares of the financial services provider’s stock valued at $625,000 after buying an additional 279 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Iron Mountain by 153.5% in the fourth quarter. Jones Financial Companies Lllp now owns 7,118 shares of the financial services provider’s stock valued at $748,000 after acquiring an additional 4,310 shares during the period. SRS Capital Advisors Inc. grew its position in shares of Iron Mountain by 281.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 930 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 686 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC purchased a new stake in Iron Mountain in the 4th quarter valued at $26,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total transaction of $1,793,377.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Daniel Borges sold 6,433 shares of the company’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 value of $597,239.72. Following the completion of the sale, the chief accounting officer now directly owns 288 shares in the company, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 343,114 shares of company stock worth $33,323,682. 2.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company reduced their price objective 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. JPMorgan Chase & Co. lowered their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Finally, Barclays cut 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 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 company. According to MarketBeat, Iron Mountain currently has an average rating of “Buy” and a consensus target price of $127.67.

Iron Mountain Trading Up 0.2 %

Shares of IRM stock opened at $88.38 on Thursday. The stock has a 50 day simple moving average of $101.46 and a 200-day simple moving average of $111.56. The company has a market cap of $25.96 billion, a price-to-earnings ratio of 144.88, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 12-month low of $73.53 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations 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 posted $0.52 earnings per share. On average, equities analysts forecast 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 given 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 dividend yield of 3.55%. Iron Mountain’s payout ratio is currently 514.75%.

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.