IFP Advisors Inc Boosts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

IFP Advisors Inc grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 23.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,413 shares of the financial services provider’s stock after buying an additional 848 shares during the period. IFP Advisors Inc’s holdings in Iron Mountain were worth $464,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Colonial River Investments LLC lifted its position in shares of Iron Mountain by 55.4% during the 4th quarter. Colonial River Investments LLC now owns 14,018 shares of the financial services provider’s stock valued at $1,473,000 after buying an additional 4,997 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Iron Mountain during the 4th quarter valued at about $2,901,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Iron Mountain by 37.9% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 53,084 shares of the financial services provider’s stock valued at $5,580,000 after buying an additional 14,600 shares in the last quarter. Trinity Legacy Partners LLC lifted its holdings in Iron Mountain by 4.8% in the 4th quarter. Trinity Legacy Partners LLC now owns 44,469 shares of the financial services provider’s stock worth $4,674,000 after purchasing an additional 2,039 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its holdings in Iron Mountain by 3.5% in the 4th quarter. Concurrent Investment Advisors LLC now owns 6,393 shares of the financial services provider’s stock worth $672,000 after purchasing an additional 218 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday. Barclays lowered their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company lowered their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, Royal Bank of Canada boosted their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $127.67.

Iron Mountain Price Performance

NYSE:IRM opened at $93.15 on Friday. Iron Mountain Incorporated has a 1 year low of $73.53 and a 1 year high of $130.24. The stock’s 50 day simple moving average is $102.11 and its two-hundred day simple moving average is $111.78. The company has a market cap of $27.36 billion, a price-to-earnings ratio of 152.70, a PEG ratio of 5.15 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the firm earned $0.52 EPS. As a group, analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business 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. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.37%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is currently 514.75%.

Insider Activity

In other news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,872 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. 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. 2.10% of the stock is currently 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.