Erste Asset Management GmbH Buys 5,200 Shares of Iron Mountain Incorporated (NYSE:IRM)

Erste Asset Management GmbH grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 6.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 86,600 shares of the financial services provider’s stock after acquiring an additional 5,200 shares during the quarter. Erste Asset Management GmbH’s holdings in Iron Mountain were worth $9,068,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Halbert Hargrove Global Advisors LLC bought a new stake in Iron Mountain during the fourth quarter worth about $26,000. Key Financial Inc raised its position in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after buying an additional 251 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Iron Mountain during the 3rd quarter worth approximately $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain during the 3rd quarter worth approximately $36,000. Finally, Dunhill Financial LLC increased its stake in Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 152 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions 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 company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 327,242 shares of company stock worth $31,530,305. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Down 1.7 %

Shares of Iron Mountain stock opened at $84.96 on Friday. The stock has a market cap of $24.96 billion, a price-to-earnings ratio of 139.28, a P/E/G 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. The company’s fifty day moving average is $99.06 and its 200 day moving average is $110.45.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the firm posted $0.52 EPS. As a group, equities analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders 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 yield of 3.70%. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. 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. Wells Fargo & Company decreased their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. 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 research note on Wednesday, November 27th. Finally, Barclays cut their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $127.67.

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.