Iron Mountain Incorporated (NYSE:IRM) Position Raised by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. raised its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 118.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,775 shares of the financial services provider’s stock after purchasing an additional 11,825 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Iron Mountain were worth $1,524,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in Iron Mountain by 315.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock valued at $179,079,000 after acquiring an additional 2,286,711 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Iron Mountain by 60.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock valued at $285,960,000 after purchasing an additional 1,546,592 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Iron Mountain by 214.7% during the third quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock worth $103,744,000 after buying an additional 1,178,754 shares in the last quarter. Invesco Ltd. grew its position in Iron Mountain by 49.7% in the third quarter. Invesco Ltd. now owns 3,243,435 shares of the financial services provider’s stock worth $192,822,000 after buying an additional 1,077,339 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Iron Mountain in the third quarter valued at $38,430,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Up 1.0 %

NYSE:IRM opened at $75.85 on Tuesday. Iron Mountain Incorporated has a 1-year low of $52.81 and a 1-year high of $82.19. The firm has a market capitalization of $22.17 billion, a price-to-earnings ratio of 120.40, a PEG ratio of 4.51 and a beta of 0.94. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78. The business’s fifty day moving average price is $76.70 and its 200 day moving average price is $68.91.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. Iron Mountain’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. On average, sell-side analysts forecast that Iron Mountain Incorporated will post 4.16 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is currently 412.70%.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, April 15th. The stock was sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $22,670,442. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $22,670,442. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Deborah Marson sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total value of $134,860.00. Following the completion of the transaction, the executive vice president now owns 48,026 shares in the company, valued at approximately $3,238,393.18. The disclosure for this sale can be found here. Insiders have sold a total of 164,124 shares of company stock worth $12,698,221 in the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IRM. Barclays raised their price objective on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Stifel Nicolaus lifted their price target on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. TheStreet lowered shares of Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Finally, Wells Fargo & Company lifted their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.80.

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.