Cambridge Investment Research Advisors Inc. Increases Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Cambridge Investment Research Advisors Inc. increased its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 25.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,998 shares of the financial services provider's stock after acquiring an additional 32,937 shares during the period. Cambridge Investment Research Advisors Inc. owned approximately 0.06% of Iron Mountain worth $11,477,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in shares of Iron Mountain during the fourth quarter valued at approximately $16,590,000. Handelsbanken Fonder AB boosted its position in shares of Iron Mountain by 42.3% during the fourth quarter. Handelsbanken Fonder AB now owns 162,087 shares of the financial services provider's stock valued at $11,343,000 after buying an additional 48,170 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Iron Mountain by 60.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider's stock valued at $285,960,000 after buying an additional 1,546,592 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Iron Mountain by 6.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 462,652 shares of the financial services provider's stock valued at $30,637,000 after acquiring an additional 27,551 shares in the last quarter. Finally, Allworth Financial LP raised its stake in shares of Iron Mountain by 6,889.9% during the fourth quarter. Allworth Financial LP now owns 63,189 shares of the financial services provider's stock valued at $4,422,000 after acquiring an additional 62,285 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Insider Activity

In other news, CAO Daniel Borges sold 996 shares of the business's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $80.00, for a total transaction of $79,680.00. Following the sale, the chief accounting officer now directly owns 3,095 shares of the company's stock, valued at $247,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Iron Mountain news, CEO William L. Meaney sold 115,979 shares of the company's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $78.90, for a total value of $9,150,743.10. Following the sale, the chief executive officer now directly owns 432,682 shares of the company's stock, valued at $34,138,609.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Daniel Borges sold 996 shares of the company's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $80.00, for a total transaction of $79,680.00. Following the completion of the sale, the chief accounting officer now directly owns 3,095 shares in the company, valued at $247,600. The disclosure for this sale can be found here. Insiders have sold 148,355 shares of company stock valued at $11,663,526 over the last ninety days. 2.10% of the stock is currently owned by insiders.

Iron Mountain Stock Up 1.2 %

NYSE:IRM traded up $0.95 during trading hours on Friday, reaching $80.23. The company's stock had a trading volume of 651,298 shares, compared to its average volume of 1,364,367. The stock has a 50 day moving average price of $78.52 and a two-hundred day moving average price of $72.19. The company has a market capitalization of $23.52 billion, a P/E ratio of 121.56, a price-to-earnings-growth ratio of 4.80 and a beta of 0.96. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86. Iron Mountain Incorporated has a 12 month low of $52.81 and a 12 month high of $83.00.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.00 by ($0.48). The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a return on equity of 282.93% and a net margin of 5.45%. The business's revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. Equities analysts predict that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain's payout ratio is presently 393.95%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IRM shares. TheStreet downgraded shares of Iron Mountain from a "b" rating to a "c" rating in a research note on Thursday, February 22nd. Barclays lifted their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the company an "overweight" rating in a research note on Tuesday, March 5th. Finally, Wells Fargo & Company lifted their price target on shares of Iron Mountain from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.80.

About Iron Mountain

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.