Aquila Investment Management LLC Acquires New Holdings in Iron Mountain Incorporated (NYSE:IRM)

Aquila Investment Management LLC acquired a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,000 shares of the financial services provider’s stock, valued at approximately $700,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IRM. International Assets Investment Management LLC purchased a new stake in Iron Mountain during the fourth quarter valued at approximately $16,590,000. Allworth Financial LP increased its holdings in 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 valued at $4,422,000 after buying an additional 62,285 shares during the last quarter. Waverly Advisors LLC purchased a new stake in Iron Mountain during the third quarter valued at approximately $1,993,000. RPg Family Wealth Advisory LLC purchased a new stake in Iron Mountain during the fourth quarter valued at approximately $3,270,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in 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 valued at $5,051,000 after buying an additional 42,407 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In related news, EVP Mark Kidd sold 4,458 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $80.21, for a total transaction of $357,576.18. Following the completion of the transaction, the executive vice president now directly owns 62,938 shares of the company’s stock, valued at $5,048,256.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Iron Mountain news, EVP Mark Kidd sold 4,458 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $80.21, for a total transaction of $357,576.18. Following the completion of the transaction, the executive vice president now owns 62,938 shares in the company, valued at $5,048,256.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Daniel Borges sold 996 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $80.00, for a total transaction of $79,680.00. Following the transaction, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at approximately $247,600. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,249 shares of company stock valued at $11,480,926. Corporate insiders own 2.20% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $76.02 on Friday. The firm has a fifty day moving average price of $75.92 and a 200-day moving average price of $68.14. 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 stock has a market cap of $22.22 billion, a PE ratio of 120.67, a price-to-earnings-growth ratio of 4.57 and a beta of 0.94. Iron Mountain Incorporated has a 1 year low of $52.05 and a 1 year high of $82.19.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.48). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 earnings per share. Equities analysts anticipate that Iron Mountain Incorporated will post 4.16 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.60 annualized dividend and a yield of 3.42%. Iron Mountain’s payout ratio is 412.70%.

Analyst Upgrades and Downgrades

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

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.