Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. grew its stake in Iron Mountain Incorporated (NYSE:IRM) by 36.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,450 shares of the financial services provider’s stock after buying an additional 9,245 shares during the period. Lee Danner & Bass Inc.’s holdings in Iron Mountain were worth $3,621,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. IMG Wealth Management Inc. acquired a new stake in Iron Mountain during the 4th quarter worth $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Iron Mountain during the 4th quarter worth $26,000. Key Financial Inc boosted its stake in Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 251 shares during the period. Teachers Insurance & Annuity Association of America acquired a new stake in Iron Mountain during the 3rd quarter worth $36,000. Finally, Dunhill Financial LLC boosted its stake in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on IRM shares. JPMorgan Chase & Co. decreased 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. Wells Fargo & Company cut their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Royal Bank of Canada upped their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Finally, Barclays cut their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $125.67.

Insider Activity

In related news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,242 shares of company stock worth $31,530,305 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Down 0.3 %

Shares of IRM opened at $88.36 on Friday. The company has a 50-day simple moving average of $97.16 and a 200-day simple moving average of $109.40. The company has a market capitalization of $25.95 billion, a PE ratio of 144.84, a P/E/G ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $0.52 EPS. On average, research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business 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 $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Iron Mountain 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.