Federated Hermes Inc. Increases Position in Iron Mountain Incorporated (NYSE:IRM)

Federated Hermes Inc. raised its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.0% during the fourth quarter, HoldingsChannel reports. The firm owned 4,599 shares of the financial services provider’s stock after purchasing an additional 179 shares during the period. Federated Hermes Inc.’s holdings in Iron Mountain were worth $322,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its position in Iron Mountain by 5.3% during the third quarter. Commonwealth Equity Services LLC now owns 198,302 shares of the financial services provider’s stock valued at $11,789,000 after acquiring an additional 10,063 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Iron Mountain by 12.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 131,061 shares of the financial services provider’s stock worth $7,792,000 after purchasing an additional 14,267 shares during the period. Raymond James & Associates lifted its stake in Iron Mountain by 0.9% in the third quarter. Raymond James & Associates now owns 359,759 shares of the financial services provider’s stock worth $21,388,000 after purchasing an additional 3,037 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in Iron Mountain by 2.8% during the third quarter. J.W. Cole Advisors Inc. now owns 6,429 shares of the financial services provider’s stock valued at $382,000 after buying an additional 177 shares during the period. Finally, NorthRock Partners LLC bought a new position in shares of Iron Mountain during the third quarter valued at about $216,000. Institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Daniel Borges sold 996 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the transaction, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at approximately $247,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $1,083,310.00. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $20,175,156. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Daniel Borges sold 996 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $80.00, for a total transaction of $79,680.00. Following the completion of the transaction, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at $247,600. The disclosure for this sale can be found here. Insiders sold 162,124 shares of company stock worth $12,563,361 over the last three months. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Iron Mountain Price Performance

Shares of IRM stock opened at $75.32 on Friday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.78 and a current ratio of 0.86. The firm has a market cap of $22.08 billion, a P/E ratio of 114.12, a P/E/G ratio of 4.61 and a beta of 0.96. The business’s 50 day moving average price is $78.13 and its 200-day moving average price is $69.87. 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 data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a net margin of 5.45% and a return on equity of 282.93%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities research analysts anticipate that Iron Mountain Incorporated will post 4.18 earnings per share for the current year.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be issued a $0.65 dividend. The ex-dividend date is Monday, June 17th. This represents a $2.60 annualized dividend and a yield of 3.45%. Iron Mountain’s dividend payout ratio (DPR) is presently 393.95%.

About Iron Mountain

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.