Kohmann Bosshard Financial Services LLC Makes New Investment in Iron Mountain Incorporated (NYSE:IRM)

Kohmann Bosshard Financial Services LLC acquired a new position in Iron Mountain Incorporated (NYSE:IRM) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 607 shares of the financial services provider’s stock, valued at approximately $64,000.

Several other hedge funds have also recently made changes to their positions in IRM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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 valued at $376,756,000 after buying an additional 2,672,821 shares during the period. Mizuho Securities USA LLC raised its stake in shares of Iron Mountain by 2,193.9% in the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock valued at $61,613,000 after buying an additional 495,898 shares during the period. Aew Capital Management L P raised its stake in shares of Iron Mountain by 55.6% in the fourth quarter. Aew Capital Management L P now owns 678,887 shares of the financial services provider’s stock valued at $71,358,000 after buying an additional 242,490 shares during the period. Strategic Financial Concepts LLC raised its stake in shares of Iron Mountain by 10,432.5% in the fourth quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock valued at $243,000 after buying an additional 240,261 shares during the period. Finally, KBC Group NV raised its stake in shares of Iron Mountain by 368.4% in the third quarter. KBC Group NV now owns 305,392 shares of the financial services provider’s stock valued at $36,289,000 after buying an additional 240,195 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Insider Transactions at Iron Mountain

In other news, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $7,248,385.35. The disclosure for this sale can be found here. In the last three months, insiders sold 162,391 shares of company stock worth $16,805,912. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Down 3.2 %

Iron Mountain stock opened at $90.15 on Tuesday. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24. The business has a 50-day simple moving average of $101.81 and a 200 day simple moving average of $111.70. The stock has a market cap of $26.48 billion, a price-to-earnings ratio of 147.79, a PEG ratio of 5.15 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last posted 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 business 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 earned $0.52 earnings per share. On average, research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.48%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. Iron Mountain’s payout ratio is presently 514.75%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IRM. Barclays lowered their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Royal Bank of Canada boosted their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company decreased their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. decreased their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. One equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $127.67.

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.