Trust Investment Advisors Purchases 1,860 Shares of Iron Mountain Incorporated (NYSE:IRM)

Trust Investment Advisors grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 11.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,163 shares of the financial services provider’s stock after buying an additional 1,860 shares during the period. Iron Mountain accounts for 1.2% of Trust Investment Advisors’ portfolio, making the stock its 21st largest position. Trust Investment Advisors’ holdings in Iron Mountain were worth $1,909,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC grew its position in Iron Mountain by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock valued at $978,479,000 after acquiring an additional 128,622 shares during the last quarter. Wealthfront Advisers LLC grew its holdings in shares of Iron Mountain by 9,843.3% in the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock worth $721,562,000 after purchasing an additional 6,795,792 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Iron Mountain by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider’s stock worth $365,656,000 after buying an additional 92,475 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Iron Mountain by 537.0% during the 3rd 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 valued at $376,756,000 after buying an additional 2,672,821 shares in the last quarter. Finally, TD Asset Management Inc. boosted its position in Iron Mountain by 125.4% in the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock valued at $205,220,000 after buying an additional 1,086,308 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IRM has been the topic of a number of research reports. Wells Fargo & Company reduced their target price 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. decreased 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. Royal Bank of Canada increased their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Barclays decreased their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Finally, StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $125.67.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 172,552 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the sale, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. This represents a 42.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 318,979 shares of company stock valued at $30,666,904. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

Shares of NYSE IRM opened at $87.84 on Wednesday. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24. The business has a fifty day moving average price of $96.32 and a 200 day moving average price of $108.88. The stock has a market capitalization of $25.80 billion, a P/E ratio of 144.00, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last released its quarterly 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 net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the previous year, the company posted $0.52 earnings per share. As a group, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared 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 is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s payout ratio is currently 514.75%.

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.