Vontobel Holding Ltd. Increases Stake in Iron Mountain Incorporated (NYSE:IRM)

Vontobel Holding Ltd. raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,668 shares of the financial services provider’s stock after purchasing an additional 168 shares during the period. Vontobel Holding Ltd.’s holdings in Iron Mountain were worth $491,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after purchasing an additional 2,672,821 shares during the last quarter. Mizuho Securities USA LLC increased its holdings in shares of Iron Mountain by 2,193.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after buying an additional 495,898 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Iron Mountain by 12,953.4% during the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock worth $53,312,000 after purchasing an additional 445,207 shares during the period. abrdn plc boosted its stake in shares of Iron Mountain by 88.2% during the 3rd quarter. abrdn plc now owns 626,280 shares of the financial services provider’s stock worth $73,770,000 after purchasing an additional 293,425 shares during the period. Finally, Strategic Financial Concepts LLC boosted its stake in shares of Iron Mountain by 10,432.5% during the 4th quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 240,261 shares during the period. Institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on IRM. Barclays lowered their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company cut their price target 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. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. Royal Bank of Canada upped their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.67.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $93.39 on Friday. The stock has a market capitalization of $27.43 billion, a price-to-earnings ratio of 153.10, a PEG ratio of 5.19 and a beta of 1.01. The firm’s fifty day simple moving average is $103.91 and its 200-day simple moving average is $112.39. Iron Mountain Incorporated has a 12 month low of $67.89 and a 12 month high of $130.24.

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). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. 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 announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.36%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio is 468.85%.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 162,391 shares of company stock worth $16,805,912. Corporate insiders own 2.10% of the company’s stock.

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.