International Assets Investment Management LLC Acquires New Stake in Iron Mountain Incorporated (NYSE:IRM)

International Assets Investment Management LLC bought a new position in Iron Mountain Incorporated (NYSE:IRM) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 237,066 shares of the financial services provider’s stock, valued at approximately $16,590,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Acadian Asset Management LLC increased its position in Iron Mountain by 15.1% in the first quarter. Acadian Asset Management LLC now owns 2,503 shares of the financial services provider’s stock worth $137,000 after buying an additional 328 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in Iron Mountain by 71.3% in 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 stake in 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 during the period. APG Asset Management N.V. boosted its position in shares of Iron Mountain by 13.0% in the first quarter. APG Asset Management N.V. now owns 18,205 shares of the financial services provider’s stock worth $907,000 after purchasing an additional 2,100 shares during the period. Finally, Raymond James Trust N.A. increased its stake in shares of 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 worth $419,000 after purchasing an additional 2,608 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 1.2 %

IRM opened at $76.61 on Friday. The company has a market capitalization of $22.39 billion, a PE ratio of 121.61, a price-to-earnings-growth ratio of 4.73 and a beta of 0.94. The firm has a 50-day simple moving average of $75.78 and a two-hundred day simple moving average of $67.98. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. Iron Mountain Incorporated has a 52 week low of $52.05 and a 52 week high of $82.19.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Iron Mountain’s quarterly revenue was up 11.0% on a year-over-year basis. Analysts forecast 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. Investors of record on Friday, March 15th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s payout ratio is 412.70%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. TheStreet downgraded shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Barclays upped their price objective on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Stifel Nicolaus lifted their target price on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Finally, Wells Fargo & Company boosted their price target on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. One 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $73.80.

Insider Buying and Selling at Iron Mountain

In other news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $67.43, for a total transaction of $134,860.00. Following the sale, the executive vice president now directly owns 48,026 shares in the company, valued at approximately $3,238,393.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total transaction of $134,860.00. Following the transaction, the executive vice president now owns 48,026 shares of the company’s stock, valued at approximately $3,238,393.18. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $68.24, for a total value of $1,083,310.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $20,175,156. The disclosure for this sale can be found here. Insiders sold 148,249 shares of company stock worth $11,480,926 over the last 90 days. 2.20% of the stock is owned by insiders.

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.