Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd trimmed its stake in Iron Mountain Incorporated (NYSE:IRM) by 15.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,748 shares of the financial services provider’s stock after selling 900 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Iron Mountain were worth $499,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. PNC Financial Services Group Inc. lifted its stake in Iron Mountain by 2.8% during the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after buying an additional 1,446 shares in the last quarter. Merit Financial Group LLC lifted its position in shares of Iron Mountain by 91.5% in the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after acquiring an additional 7,137 shares in the last quarter. Tidal Investments LLC boosted its stake in Iron Mountain by 254.1% in the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after purchasing an additional 14,737 shares during the period. Exchange Traded Concepts LLC grew its position in Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 5,511 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in Iron Mountain during the 3rd quarter valued at $24,122,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Daniel Borges sold 6,433 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares of the company’s stock, valued at $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,242 shares of company stock valued at $31,530,305 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Stock Up 1.9 %

IRM stock opened at $86.68 on Friday. The company has a market capitalization of $25.46 billion, a price-to-earnings ratio of 142.09, a P/E/G ratio of 5.15 and a beta of 1.04. The firm has a 50 day moving average of $98.28 and a two-hundred day moving average of $110.05. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS 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 in the previous year, the company earned $0.52 earnings per share. On average, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.62%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IRM. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a report on Friday. Wells Fargo & Company dropped their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Royal Bank of Canada upped their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Finally, Barclays decreased their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $127.67.

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.