Investors Research Corp Lowers Holdings in Iron Mountain Incorporated (NYSE:IRM)

Investors Research Corp lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 57.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,803 shares of the financial services provider’s stock after selling 2,426 shares during the period. Investors Research Corp’s holdings in Iron Mountain were worth $126,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of IRM. Moneta Group Investment Advisors LLC purchased a new stake in Iron Mountain during the fourth quarter worth $224,698,000. Wellington Management Group LLP lifted its holdings in Iron Mountain by 315.2% during the third quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock worth $179,079,000 after buying an additional 2,286,711 shares during the period. Norges Bank purchased a new stake in Iron Mountain during the fourth quarter worth $97,752,000. Ameriprise Financial Inc. lifted its holdings in Iron Mountain by 214.7% during the third quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock worth $103,744,000 after buying an additional 1,178,754 shares during the period. Finally, Invesco Ltd. increased its position in shares of Iron Mountain by 49.7% during the third quarter. Invesco Ltd. now owns 3,243,435 shares of the financial services provider’s stock worth $192,822,000 after purchasing an additional 1,077,339 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

NYSE IRM opened at $74.71 on Wednesday. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78. The stock’s fifty day moving average price is $76.16 and its 200 day moving average price is $68.42. Iron Mountain Incorporated has a 1 year low of $52.05 and a 1 year high of $82.19. The company has a market cap of $21.84 billion, a price-to-earnings ratio of 118.59, a PEG ratio of 4.50 and a beta of 0.94.

Iron Mountain (NYSE:IRM) last released its earnings results 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). The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. Iron Mountain’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 earnings per share. As a group, equities research analysts forecast that Iron Mountain Incorporated will post 4.16 earnings per share for the current year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.48%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s dividend payout ratio is currently 412.70%.

Insiders Place Their Bets

In other Iron Mountain news, CAO Daniel Borges sold 996 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $247,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $68.24, for a total transaction of $1,083,310.00. Following the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $20,175,156. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Daniel Borges sold 996 shares of the 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 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 148,249 shares of company stock valued at $11,480,926. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

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

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.