Hennion & Walsh Asset Management Inc. grew its position in shares of Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 148.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,385 shares of the financial services provider’s stock after buying an additional 9,182 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Iron Mountain were worth $767,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the company. State Street Corp raised its position in Iron Mountain by 1.9% during the 2nd quarter. State Street Corp now owns 14,896,104 shares of the financial services provider’s stock worth $734,333,000 after buying an additional 274,095 shares during the last quarter. Pictet Asset Management SA increased its holdings in shares of Iron Mountain by 40.6% in the 3rd quarter. Pictet Asset Management SA now owns 4,030,490 shares of the financial services provider’s stock valued at $177,221,000 after purchasing an additional 1,163,745 shares in the last quarter. Amundi increased its holdings in shares of Iron Mountain by 4.5% in the 2nd quarter. Amundi now owns 3,689,155 shares of the financial services provider’s stock valued at $177,360,000 after purchasing an additional 160,397 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Iron Mountain by 3.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,566,592 shares of the financial services provider’s stock valued at $197,625,000 after purchasing an additional 103,470 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Iron Mountain by 3.9% in the 2nd quarter. Legal & General Group Plc now owns 2,092,091 shares of the financial services provider’s stock valued at $101,864,000 after purchasing an additional 78,238 shares in the last quarter. Hedge funds and other institutional investors own 77.12% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on IRM. Barclays cut their price target on shares of Iron Mountain from $57.00 to $56.00 in a report on Monday. Exane BNP Paribas assumed coverage on shares of Iron Mountain in a report on Wednesday, December 14th. They issued an “outperform” rating for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 price objective on shares of Iron Mountain in a research note on Monday, March 6th. StockNews.com assumed coverage on shares of Iron Mountain in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, BNP Paribas assumed coverage on shares of Iron Mountain in a research note on Wednesday, December 14th. They issued an “outperform” rating and a $66.00 price objective on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and an average price target of $60.40.
Insiders Place Their Bets
Iron Mountain Price Performance
Iron Mountain stock opened at $49.54 on Friday. Iron Mountain Incorporated has a 12-month low of $43.33 and a 12-month high of $58.61. The stock has a market capitalization of $14.41 billion, a P/E ratio of 26.07, a P/E/G ratio of 3.51 and a beta of 0.89. The firm’s 50-day moving average is $52.92 and its two-hundred day moving average is $51.36. The company has a debt-to-equity ratio of 16.46, a current ratio of 0.81 and a quick ratio of 0.81.
Iron Mountain (NYSE:IRM – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.46). Iron Mountain had a return on equity of 79.49% and a net margin of 10.91%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business earned $0.74 earnings per share. Iron Mountain’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities analysts predict that Iron Mountain Incorporated will post 3.64 earnings per share for the current year.
Iron Mountain Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th will be paid a dividend of $0.6185 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.62. This represents a $2.47 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend is Tuesday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is currently 130.00%.
Iron Mountain Company Profile
Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.
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