Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Investors Research Corp

Investors Research Corp cut its holdings in Iron Mountain Incorporated (NYSE:IRM) by 57.4% during the fourth quarter, HoldingsChannel reports. The firm owned 1,803 shares of the financial services provider’s stock after selling 2,426 shares during the period. Investors Research Corp’s holdings in Iron Mountain were worth $126,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in IRM. Moneta Group Investment Advisors LLC acquired a new position in shares of Iron Mountain during the fourth quarter worth about $224,698,000. Wellington Management Group LLP increased its stake in shares of Iron Mountain by 315.2% during the third quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock worth $179,079,000 after acquiring an additional 2,286,711 shares during the period. Norges Bank acquired a new position in shares of Iron Mountain during the fourth quarter worth about $97,752,000. Ameriprise Financial Inc. increased its stake in shares of Iron Mountain by 214.7% during the third quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock worth $103,744,000 after acquiring an additional 1,178,754 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Iron Mountain by 49.7% during the third quarter. Invesco Ltd. now owns 3,243,435 shares of the financial services provider’s stock worth $192,822,000 after acquiring an additional 1,077,339 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In related news, CAO Daniel Borges sold 996 shares of the company’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 transaction of $79,680.00. Following the transaction, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at $247,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $67.43, for a total transaction of $134,860.00. Following the completion of the transaction, the executive vice president now owns 48,026 shares of the company’s stock, valued at $3,238,393.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Daniel Borges sold 996 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $80.00, for a total transaction of $79,680.00. Following the transaction, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at approximately $247,600. The disclosure for this sale can be found here. Insiders have sold 148,249 shares of company stock valued at $11,480,926 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Iron Mountain Trading Down 0.2 %

Shares of IRM opened at $74.71 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78. The firm’s 50-day moving average is $76.16 and its two-hundred day moving average is $68.42. Iron Mountain Incorporated has a twelve month low of $52.05 and a twelve month high of $82.19. The firm has a market capitalization of $21.84 billion, a P/E ratio of 118.59, a PEG ratio of 4.50 and a beta of 0.94.

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

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 412.70%.

Analyst Ratings Changes

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

Iron Mountain Company 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.