American Century Companies Inc. Cuts Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

American Century Companies Inc. trimmed its position in Iron Mountain Incorporated (NYSE:IRM) by 22.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 625,395 shares of the financial services provider’s stock after selling 178,279 shares during the quarter. American Century Companies Inc.’s holdings in Iron Mountain were worth $65,735,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IRM. Key Financial Inc increased its stake in Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC bought a new stake in Iron Mountain in the fourth quarter worth $26,000. IMG Wealth Management Inc. purchased a new stake in Iron Mountain during the fourth quarter valued at $26,000. Teachers Insurance & Annuity Association of America bought a new position in Iron Mountain during the third quarter valued at $36,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock worth $51,000 after buying an additional 155 shares in the last quarter. 80.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

IRM has been the subject of a number of analyst reports. Royal Bank of Canada increased their price target 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. Wells Fargo & Company reduced their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Barclays cut their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Iron Mountain has a consensus rating of “Buy” and a consensus target price of $125.67.

Iron Mountain Trading Down 2.5 %

Shares of IRM stock opened at $87.84 on Wednesday. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24. The stock has a fifty day simple moving average of $96.32 and a two-hundred day simple moving average of $108.88. The stock has a market capitalization of $25.80 billion, a price-to-earnings ratio of 144.00, a P/E/G ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period last year, the business posted $0.52 EPS. Research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a $0.785 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 3.57%. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the completion of the sale, the chief executive officer now owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Daniel Borges sold 6,433 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now directly owns 288 shares in the company, valued at $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 318,979 shares of company stock worth $30,666,904 in the last ninety days. 2.10% of the stock is owned by insiders.

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.