Duff & Phelps Investment Management Co. Acquires 12,280 Shares of Iron Mountain Incorporated (NYSE:IRM)

Duff & Phelps Investment Management Co. boosted its stake in Iron Mountain Incorporated (NYSE:IRM) by 28.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,070 shares of the financial services provider’s stock after acquiring an additional 12,280 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Iron Mountain were worth $3,924,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Deutsche Bank AG boosted its position in Iron Mountain by 0.7% during the third quarter. Deutsche Bank AG now owns 4,571,545 shares of the financial services provider’s stock worth $271,778,000 after purchasing an additional 29,683 shares during the period. Daiwa Securities Group Inc. increased its position in shares of 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 buying an additional 1,546,592 shares during the period. Northern Trust Corp increased its position in shares of Iron Mountain by 1.2% during the third quarter. Northern Trust Corp now owns 3,913,828 shares of the financial services provider’s stock valued at $232,677,000 after buying an additional 47,902 shares during the period. Invesco Ltd. lifted its holdings in shares of 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 in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Iron Mountain by 315.2% in the third 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 period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Trading Down 0.6 %

Shares of IRM stock opened at $77.52 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. The firm has a market cap of $22.72 billion, a P/E ratio of 123.05, a price-to-earnings-growth ratio of 4.67 and a beta of 0.94. The business has a 50-day moving average price of $77.66 and a two-hundred day moving average price of $69.54. Iron Mountain Incorporated has a 12-month low of $52.81 and a 12-month high of $82.19.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 earnings per share. Equities analysts anticipate that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 412.70%.

Insider Activity at Iron Mountain

In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the business’s 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 sale, the executive vice president now owns 48,026 shares in the company, valued at $3,238,393.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $67.43, for a total value of $134,860.00. Following the transaction, the executive vice president now owns 48,026 shares in the company, valued at $3,238,393.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Daniel Borges sold 996 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $80.00, for a total transaction of $79,680.00. Following the transaction, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at $247,600. The disclosure for this sale can be found here. Insiders sold 164,124 shares of company stock worth $12,698,221 in the last ninety days. 2.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on IRM. Barclays upped their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Wells Fargo & Company boosted their target price on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. TheStreet downgraded Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus upped their price objective on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.