Terra Nova Asset Management LLC Grows Position in Iron Mountain Incorporated (NYSE:IRM)

Terra Nova Asset Management LLC increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 35.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,589 shares of the financial services provider’s stock after purchasing an additional 7,505 shares during the period. Iron Mountain makes up about 1.8% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 22nd largest position. Terra Nova Asset Management LLC’s holdings in Iron Mountain were worth $2,001,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of IRM. State Street Corp increased its position in Iron Mountain by 1.8% during the first quarter. State Street Corp now owns 14,622,009 shares of the financial services provider’s stock valued at $819,026,000 after acquiring an additional 261,765 shares during the last quarter. Geode Capital Management LLC increased its position in Iron Mountain by 12.1% during the first quarter. Geode Capital Management LLC now owns 7,781,928 shares of the financial services provider’s stock valued at $411,015,000 after acquiring an additional 837,623 shares during the last quarter. Cohen & Steers Inc. grew its holdings in shares of Iron Mountain by 163.9% in the second quarter. Cohen & Steers Inc. now owns 7,725,767 shares of the financial services provider’s stock worth $438,926,000 after purchasing an additional 4,798,010 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Iron Mountain by 10.5% in the first quarter. Deutsche Bank AG now owns 4,584,196 shares of the financial services provider’s stock worth $242,550,000 after purchasing an additional 436,842 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC bought a new position in shares of Iron Mountain in the fourth quarter worth about $224,698,000. Institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In related news, Director Robin Matlock sold 941 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $69.28, for a total value of $65,192.48. Following the transaction, the director now owns 21,957 shares in the company, valued at approximately $1,521,180.96. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Robin Matlock sold 941 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $69.28, for a total transaction of $65,192.48. Following the sale, the director now owns 21,957 shares of the company’s stock, valued at approximately $1,521,180.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction that occurred 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 approximately $247,600. The disclosure for this sale can be found here. In the last quarter, insiders have sold 171,983 shares of company stock worth $13,030,171. 2.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Iron Mountain Stock Performance

IRM stock opened at $80.21 on Friday. Iron Mountain Incorporated has a one year low of $50.49 and a one year high of $82.19. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $23.44 billion, a price-to-earnings ratio of 127.32, a PEG ratio of 4.82 and a beta of 0.94. The firm has a 50-day simple moving average of $73.63 and a two-hundred day simple moving average of $66.90.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the company earned $0.98 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. On average, equities analysts forecast that Iron Mountain Incorporated will post 4.16 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Friday, March 15th will be issued a $0.65 dividend. The ex-dividend date is Thursday, March 14th. This represents a $2.60 annualized dividend and a yield of 3.24%. Iron Mountain’s dividend payout ratio (DPR) is presently 412.70%.

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management, innovative storage, data center infrastructure, and asset lifecycle management. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work.