Mackenzie Financial Corp Has $8.26 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Mackenzie Financial Corp increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 118,012 shares of the financial services provider’s stock after buying an additional 1,112 shares during the quarter. Mackenzie Financial Corp’s holdings in Iron Mountain were worth $8,258,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in Iron Mountain in the fourth quarter worth about $16,590,000. Allworth Financial LP increased its holdings 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 worth $4,422,000 after buying an additional 62,285 shares in the last quarter. Waverly Advisors LLC acquired a new stake in shares of Iron Mountain during the third quarter worth approximately $1,993,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Iron Mountain during the fourth quarter worth approximately $3,270,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Iron Mountain by 99.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 84,958 shares of the financial services provider’s stock worth $5,051,000 after buying an additional 42,407 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Stifel Nicolaus raised their price objective 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. Barclays raised their price objective on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Wells Fargo & Company raised their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Finally, TheStreet lowered shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and an average target price of $73.80.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the transaction, 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 legal filing with the SEC, which is available through this hyperlink. In other Iron Mountain news, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the transaction, 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 legal filing with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $22,670,442. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 164,124 shares of company stock valued at $12,698,221. 2.20% of the stock is currently owned by insiders.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $75.10 on Friday. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $21.95 billion, a P/E ratio of 119.21, a P/E/G ratio of 4.52 and a beta of 0.94. The firm has a 50 day simple moving average of $76.56 and a 200 day simple moving average of $68.62. Iron Mountain Incorporated has a fifty-two week low of $52.81 and a fifty-two week high of $82.19.

Iron Mountain (NYSE:IRM) last issued 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). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the business earned $0.98 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Sell-side analysts predict that Iron Mountain Incorporated will post 4.16 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were paid a $0.65 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.60 dividend on an annualized basis and a yield of 3.46%. Iron Mountain’s payout ratio is presently 412.70%.

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.