First Trust Advisors LP Acquires 47,492 Shares of Iron Mountain Incorporated (NYSE:IRM)

First Trust Advisors LP lifted its holdings in Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 26.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 230,188 shares of the financial services provider’s stock after acquiring an additional 47,492 shares during the quarter. First Trust Advisors LP owned 0.08% of Iron Mountain worth $11,476,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Pictet Asset Management SA lifted its position in Iron Mountain by 40.6% in the third quarter. Pictet Asset Management SA now owns 4,030,490 shares of the financial services provider’s stock valued at $177,221,000 after purchasing an additional 1,163,745 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Iron Mountain by 8,675,800.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 867,590 shares of the financial services provider’s stock worth $38,148,000 after acquiring an additional 867,580 shares during the last quarter. Bank of Montreal Can increased its position in shares of Iron Mountain by 178.0% in the fourth quarter. Bank of Montreal Can now owns 1,296,492 shares of the financial services provider’s stock valued at $71,450,000 after acquiring an additional 830,061 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Iron Mountain by 1,442.4% during the third quarter. Russell Investments Group Ltd. now owns 835,796 shares of the financial services provider’s stock valued at $36,722,000 after acquiring an additional 781,609 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in shares of Iron Mountain by 122.7% during the third quarter. Neuberger Berman Group LLC now owns 1,367,319 shares of the financial services provider’s stock worth $60,202,000 after purchasing an additional 753,405 shares during the period. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Iron Mountain Trading Down 2.3 %

IRM opened at $53.45 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 19.91. Iron Mountain Incorporated has a 52 week low of $43.33 and a 52 week high of $57.21. The stock has a market cap of $15.59 billion, a PE ratio of 26.99, a PEG ratio of 3.62 and a beta of 0.91. The business has a 50 day moving average of $53.46 and a 200-day moving average of $52.90.

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

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.6185 per share. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Wednesday, June 14th. Iron Mountain’s dividend payout ratio is 124.75%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, EVP Deborah Marson sold 1,125 shares of the business’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $51.77, for a total value of $58,241.25. Following the sale, the executive vice president now directly owns 59,419 shares of the company’s stock, valued at $3,076,121.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO William L. Meaney sold 21,014 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $55.06, for a total value of $1,157,030.84. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $16,278,489. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Deborah Marson sold 1,125 shares of the stock in a transaction on Friday, February 24th. The shares were sold at an average price of $51.77, for a total value of $58,241.25. Following the sale, the executive vice president now owns 59,419 shares in the company, valued at $3,076,121.63. The disclosure for this sale can be found here. Insiders have sold a total of 120,785 shares of company stock valued at $6,438,903 in the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on IRM shares. StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a research report on Sunday. Barclays raised their price target on Iron Mountain from $56.00 to $64.00 in a research note on Friday, May 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 price objective on shares of Iron Mountain in a research report on Monday, March 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.00.

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.