Van ECK Associates Corp Has $5.84 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Van ECK Associates Corp raised its position in Iron Mountain Incorporated (NYSE:IRM) by 10.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 55,571 shares of the financial services provider’s stock after purchasing an additional 5,150 shares during the period. Van ECK Associates Corp’s holdings in Iron Mountain were worth $5,841,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Kentucky Trust Co bought a new stake in shares of Iron Mountain in the 4th quarter worth $2,259,000. Axecap Investments LLC lifted its holdings in Iron Mountain by 6.0% during the fourth quarter. Axecap Investments LLC now owns 9,149 shares of the financial services provider’s stock valued at $962,000 after purchasing an additional 515 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in Iron Mountain by 19.4% during the fourth quarter. Summit Trail Advisors LLC now owns 5,704 shares of the financial services provider’s stock valued at $604,000 after purchasing an additional 927 shares during the last quarter. Savant Capital LLC lifted its holdings in Iron Mountain by 3.5% during the fourth quarter. Savant Capital LLC now owns 11,730 shares of the financial services provider’s stock valued at $1,233,000 after purchasing an additional 394 shares during the last quarter. Finally, TFG Advisers LLC increased its position in shares of Iron Mountain by 2.0% during the fourth quarter. TFG Advisers LLC now owns 24,754 shares of the financial services provider’s stock valued at $2,602,000 after buying an additional 491 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $95.34 on Tuesday. Iron Mountain Incorporated has a 52-week low of $67.09 and a 52-week high of $130.24. The stock has a market capitalization of $27.98 billion, a price-to-earnings ratio of 264.85, a PEG ratio of 5.84 and a beta of 1.01. The stock’s 50-day simple moving average is $105.06 and its two-hundred day simple moving average is $112.75.

Iron Mountain (NYSE:IRM) last posted 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 negative return on equity of 44,660.04% and a net margin of 1.77%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. As a group, equities analysts forecast that Iron Mountain Incorporated will post 4.18 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.29%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is currently 794.47%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on IRM shares. Royal Bank of Canada upped their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Barclays dropped their price objective 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. Wells Fargo & Company dropped 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. Finally, StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and an average price target of $129.17.

Insider Activity

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 15,872 shares of the company’s 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,391 shares of company stock valued at $16,805,912. 2.10% of the stock is currently owned by insiders.

Iron Mountain 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.