Williamson Legacy Group LLC Invests $613,000 in Iron Mountain Incorporated (NYSE:IRM)

Williamson Legacy Group LLC purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,834 shares of the financial services provider’s stock, valued at approximately $613,000.

A number of other hedge funds have also modified their holdings of IRM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Iron Mountain by 537.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after purchasing an additional 2,672,821 shares during the period. Mizuho Securities USA LLC boosted its holdings in Iron Mountain by 2,193.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock valued at $61,613,000 after acquiring an additional 495,898 shares during the period. Strategic Financial Concepts LLC boosted its holdings in Iron Mountain by 10,432.5% during the 4th quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 240,261 shares during the period. KBC Group NV boosted its holdings in Iron Mountain by 368.4% during the 3rd quarter. KBC Group NV now owns 305,392 shares of the financial services provider’s stock valued at $36,289,000 after acquiring an additional 240,195 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in Iron Mountain during the 3rd quarter valued at about $26,429,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IRM. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. lowered their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Barclays lowered their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Royal Bank of Canada raised their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, BNP Paribas raised Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Buy” and a consensus price target of $127.67.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 15,872 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total transaction of $1,793,377.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,391 shares of company stock valued at $16,805,912. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

IRM stock opened at $93.15 on Friday. The firm has a market capitalization of $27.36 billion, a P/E ratio of 152.70, a P/E/G ratio of 5.15 and a beta of 1.01. The business’s 50-day moving average is $102.11 and its two-hundred day moving average is $111.78. Iron Mountain Incorporated has a 1 year low of $73.53 and a 1 year high of $130.24.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the business posted $0.52 EPS. On average, analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

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.