Xponance Inc. Increases Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Xponance Inc. boosted its stake in Iron Mountain Incorporated (NYSE:IRM) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 98,398 shares of the financial services provider’s stock after acquiring an additional 2,735 shares during the quarter. Xponance Inc.’s holdings in Iron Mountain were worth $10,343,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. OneDigital Investment Advisors LLC increased its stake in Iron Mountain by 1.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock worth $711,000 after buying an additional 89 shares during the period. Empowered Funds LLC grew its stake in shares of Iron Mountain by 3.2% during the third quarter. Empowered Funds LLC now owns 13,482 shares of the financial services provider’s stock valued at $1,602,000 after acquiring an additional 414 shares in the last quarter. Swiss National Bank increased its position in shares of Iron Mountain by 0.3% during the third quarter. Swiss National Bank now owns 869,961 shares of the financial services provider’s stock worth $103,377,000 after acquiring an additional 2,200 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of Iron Mountain in the third quarter worth about $215,000. Finally, Caldwell Investment Management Ltd. purchased a new position in Iron Mountain in the third quarter valued at about $688,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

IRM has been the topic of several analyst reports. Royal Bank of Canada lifted their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. dropped their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Barclays reduced their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Finally, Wells Fargo & Company reduced their price target 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. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $127.67.

Iron Mountain Stock Performance

NYSE IRM opened at $87.56 on Wednesday. The firm has a market capitalization of $25.72 billion, a PE ratio of 143.54, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24. The company has a 50-day simple moving average of $97.73 and a 200-day simple moving average of $109.69.

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). 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 company posted $0.52 earnings per share. Equities analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.59%. Iron Mountain’s payout ratio is 514.75%.

Insider Transactions at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $1,364,012.46. This represents a 38.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the sale, the chief accounting officer now directly owns 288 shares in the company, valued at $26,737.92. The trade was a 95.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 327,242 shares of company stock worth $31,530,305. Insiders own 2.10% of the company’s stock.

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.