Charles Schwab Investment Management Inc. Acquires 81,741 Shares of Iron Mountain Incorporated (NYSE:IRM)

Charles Schwab Investment Management Inc. grew its stake in Iron Mountain Incorporated (NYSE:IRM) by 2.7% during the fourth quarter, HoldingsChannel reports. The fund owned 3,157,681 shares of the financial services provider’s stock after acquiring an additional 81,741 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Iron Mountain were worth $220,975,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Brown Advisory Inc. boosted its holdings in shares of Iron Mountain by 25.5% in the 3rd quarter. Brown Advisory Inc. now owns 9,870 shares of the financial services provider’s stock valued at $587,000 after buying an additional 2,005 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Iron Mountain by 366.6% in the third quarter. Mackenzie Financial Corp now owns 116,900 shares of the financial services provider’s stock worth $6,690,000 after purchasing an additional 91,848 shares during the last quarter. IFM Investors Pty Ltd increased its position in shares of Iron Mountain by 2.2% during the third quarter. IFM Investors Pty Ltd now owns 60,261 shares of the financial services provider’s stock worth $3,583,000 after purchasing an additional 1,293 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Iron Mountain by 7.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 345,344 shares of the financial services provider’s stock valued at $20,531,000 after purchasing an additional 22,766 shares during the last quarter. Finally, Advisor Partners II LLC boosted its position in shares of Iron Mountain by 11.3% in the 3rd quarter. Advisor Partners II LLC now owns 16,077 shares of the financial services provider’s stock worth $956,000 after purchasing an additional 1,638 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

Iron Mountain stock opened at $78.04 on Thursday. The company has a fifty day simple moving average of $78.29 and a 200-day simple moving average of $70.30. The firm has a market capitalization of $22.88 billion, a price-to-earnings ratio of 118.24, a PEG ratio of 4.51 and a beta of 0.96. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 52-week low of $52.81 and a 52-week high of $82.19.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share 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 was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, equities analysts anticipate that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a yield of 3.33%. Iron Mountain’s payout ratio is 393.95%.

Insiders Place Their Bets

In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $78.70, for a total value of $157,400.00. Following the completion of the sale, the executive vice president now directly owns 67,286 shares of the company’s stock, valued at approximately $5,295,408.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Edward Baker-Greene sold 4,941 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $72.94, for a total transaction of $360,396.54. Following the completion of the transaction, the executive vice president now directly owns 3,365 shares in the company, valued at approximately $245,443.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $78.70, for a total transaction of $157,400.00. Following the completion of the sale, the executive vice president now owns 67,286 shares in the company, valued at $5,295,408.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,296 shares of company stock valued at $12,023,923. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on IRM shares. TheStreet cut Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Barclays boosted their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Stifel Nicolaus raised their price target on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Iron Mountain has an average rating of “Moderate Buy” and an average price target of $73.80.

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.