Commerzbank Aktiengesellschaft FI Buys 329 Shares of Iron Mountain Incorporated (NYSE:IRM)

Commerzbank Aktiengesellschaft FI lifted its stake in Iron Mountain Incorporated (NYSE:IRM) by 16.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,280 shares of the financial services provider’s stock after acquiring an additional 329 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Iron Mountain were worth $237,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in Iron Mountain by 2.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after buying an additional 1,446 shares during the period. Merit Financial Group LLC increased its position in Iron Mountain by 91.5% in the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after buying an additional 7,137 shares during the period. Tidal Investments LLC grew its position in Iron Mountain by 254.1% in the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after purchasing an additional 14,737 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 5,511 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Iron Mountain during the third quarter valued at about $24,122,000. 80.13% of the stock is owned by institutional investors.

Iron Mountain Price Performance

Shares of IRM stock opened at $88.38 on Thursday. The stock’s fifty day simple moving average is $101.46 and its 200 day simple moving average is $111.56. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24. The firm has a market cap of $25.96 billion, a price-to-earnings ratio of 144.88, a P/E/G ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last issued its 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). The firm 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 quarter in the prior year, the firm posted $0.52 EPS. On average, research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.55%. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. 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, February 18th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada lifted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company dropped their price objective on shares of 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 equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Iron Mountain has a consensus rating of “Buy” and a consensus target price of $127.67.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 172,552 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 237,402 shares in the company, valued at approximately $21,681,924.66. This represents a 42.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 343,114 shares of company stock worth $33,323,682. Insiders own 2.10% of the company’s stock.

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.