Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 22.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,960 shares of the financial services provider’s stock after selling 5,930 shares during the period. Bank of Nova Scotia’s holdings in Iron Mountain were worth $1,045,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in IRM. Acadian Asset Management LLC raised its position in shares of Iron Mountain by 15.1% during the 1st quarter. Acadian Asset Management LLC now owns 2,503 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 328 shares in the last quarter. Panagora Asset Management Inc. raised its position in shares of Iron Mountain by 71.3% during the 1st quarter. Panagora Asset Management Inc. now owns 18,549 shares of the financial services provider’s stock worth $1,028,000 after acquiring an additional 7,719 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Iron Mountain by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,743 shares of the financial services provider’s stock worth $2,147,000 after acquiring an additional 2,399 shares in the last quarter. APG Asset Management N.V. increased its position in Iron Mountain by 13.0% during the first quarter. APG Asset Management N.V. now owns 18,205 shares of the financial services provider’s stock worth $907,000 after buying an additional 2,100 shares during the period. Finally, Raymond James Trust N.A. lifted its stake in Iron Mountain by 52.8% in the first quarter. Raymond James Trust N.A. now owns 7,552 shares of the financial services provider’s stock valued at $419,000 after buying an additional 2,608 shares during the last quarter. Institutional investors and hedge funds own 77.12% of the company’s stock.

Iron Mountain Price Performance

Iron Mountain stock opened at $55.04 on Tuesday. Iron Mountain Incorporated has a 12 month low of $43.33 and a 12 month high of $57.21. The company has a debt-to-equity ratio of 19.91, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50 day simple moving average of $53.38 and a 200-day simple moving average of $52.86. The stock has a market capitalization of $16.05 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 3.67 and a beta of 0.91.

Iron Mountain (NYSE:IRM – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The financial services provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.46). Iron Mountain had a return on equity of 88.48% and a net margin of 11.20%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the company earned $0.74 EPS. Iron Mountain’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts predict that Iron Mountain Incorporated will post 3.77 earnings per share for the current year.

Iron Mountain Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 15th will be issued a dividend of $0.6185 per share. This represents a $2.47 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date is Wednesday, June 14th. Iron Mountain’s dividend payout ratio is presently 124.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on IRM shares. StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a research note on Sunday. Barclays boosted their price objective on Iron Mountain from $56.00 to $64.00 in a research note on Friday, May 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 price objective on shares of Iron Mountain in a research note on Monday, March 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Iron Mountain currently has an average rating of “Hold” and a consensus target price of $62.00.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 62,904 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $52.78, for a total transaction of $3,320,073.12. Following the transaction, the chief executive officer now owns 376,320 shares of the company’s stock, valued at $19,862,169.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Deborah Marson sold 1,125 shares of the company’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $51.77, for a total transaction of $58,241.25. Following the transaction, the executive vice president now owns 59,419 shares of the company’s stock, valued at $3,076,121.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 62,904 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $52.78, for a total value of $3,320,073.12. Following the transaction, the chief executive officer now directly owns 376,320 shares in the company, valued at approximately $19,862,169.60. The disclosure for this sale can be found here. Insiders have sold 99,771 shares of company stock valued at $5,281,872 over the last quarter. Company insiders own 2.20% of the company’s stock.

About Iron Mountain

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Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.