First Trust Direct Indexing L.P. Makes New $403,000 Investment in Iron Mountain Incorporated (NYSE:IRM)

First Trust Direct Indexing L.P. bought a new position in Iron Mountain Incorporated (NYSE:IRM) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 5,758 shares of the financial services provider’s stock, valued at approximately $403,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in IRM. Manchester Capital Management LLC lifted its holdings in Iron Mountain by 6,983.3% during the third quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock worth $25,000 after buying an additional 419 shares during the period. Blue Trust Inc. grew its stake in Iron Mountain by 201.7% in the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 242 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Iron Mountain in the fourth quarter worth about $26,000. CVA Family Office LLC purchased a new stake in shares of Iron Mountain during the fourth quarter valued at about $32,000. Finally, Muzinich & Co. Inc. bought a new stake in shares of Iron Mountain in the 3rd quarter valued at about $35,000. Institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Daniel Borges sold 996 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the sale, the chief accounting officer now owns 3,095 shares in the company, valued at $247,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO William L. Meaney sold 115,979 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $78.90, for a total value of $9,150,743.10. Following the completion of the transaction, the chief executive officer now directly owns 432,682 shares in the company, valued at approximately $34,138,609.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Daniel Borges sold 996 shares of the stock in a transaction 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 sale, the chief accounting officer now directly owns 3,095 shares in the company, valued at $247,600. The disclosure for this sale can be found here. In the last three months, insiders have sold 149,749 shares of company stock valued at $11,748,676. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Up 2.0 %

Shares of IRM stock opened at $76.80 on Tuesday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86. Iron Mountain Incorporated has a fifty-two week low of $52.81 and a fifty-two week high of $82.19. The firm has a market capitalization of $22.51 billion, a PE ratio of 116.37, a P/E/G ratio of 4.51 and a beta of 0.96. The stock’s 50-day simple moving average is $78.16 and its 200-day simple moving average is $70.11.

Iron Mountain (NYSE:IRM) last issued its quarterly 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 business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a return on equity of 282.93% and a net margin of 5.45%. Iron Mountain’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 EPS. Equities analysts expect that Iron Mountain Incorporated will post 4.18 earnings per share for the current year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 17th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s payout ratio is 393.95%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on IRM. Stifel Nicolaus increased their target price on shares of Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. TheStreet cut Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Barclays boosted their price target on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, Wells Fargo & Company lifted their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $73.80.

Iron Mountain 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.