Amalgamated Bank Has $5.53 Million Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Amalgamated Bank reduced its holdings in Iron Mountain Incorporated (NYSE:IRM) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 78,993 shares of the financial services provider’s stock after selling 3,217 shares during the quarter. Amalgamated Bank’s holdings in Iron Mountain were worth $5,528,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Manchester Capital Management LLC lifted its position in shares of Iron Mountain by 6,983.3% during the 3rd quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 419 shares during the period. Blue Trust Inc. raised its stake in Iron Mountain by 201.7% during the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after buying an additional 242 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Iron Mountain in the 4th quarter valued at $26,000. CVA Family Office LLC acquired a new position in Iron Mountain during the fourth quarter worth $32,000. Finally, Muzinich & Co. Inc. bought a new position in shares of Iron Mountain in the third quarter valued at $35,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Trading Up 2.0 %

NYSE IRM opened at $76.80 on Tuesday. The stock has a market capitalization of $22.51 billion, a price-to-earnings ratio of 116.37, a PEG ratio of 4.51 and a beta of 0.96. The business’s fifty day moving average is $78.16 and its 200-day moving average is $70.11. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. Iron Mountain Incorporated has a one year low of $52.81 and a one year high of $82.19.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Iron Mountain had a net margin of 5.45% and a return on equity of 282.93%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Equities research analysts predict that Iron Mountain Incorporated will post 4.18 EPS for the current year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be given a $0.65 dividend. The ex-dividend date is Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.39%. Iron Mountain’s dividend payout ratio (DPR) is currently 393.95%.

Insider Activity at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were 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 directly owns 3,095 shares of the company’s stock, valued at approximately $247,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Iron Mountain news, EVP Edward Baker-Greene sold 4,941 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $72.94, for a total value of $360,396.54. Following the completion of the sale, the executive vice president now owns 3,365 shares of the company’s stock, valued at $245,443.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 directly owns 3,095 shares in the company, valued at approximately $247,600. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 149,749 shares of company stock valued at $11,748,676. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of analyst reports. 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 report on Friday, March 15th. Barclays lifted their target price on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Stifel Nicolaus increased their price target on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Finally, TheStreet lowered shares of Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company 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.