Bank of New Hampshire Grows Stake in Iron Mountain Incorporated (NYSE:IRM)

Bank of New Hampshire raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 38.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 795 shares of the financial services provider’s stock after purchasing an additional 220 shares during the quarter. Bank of New Hampshire’s holdings in Iron Mountain were worth $56,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of 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 valued at $179,079,000 after acquiring an additional 2,286,711 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Iron Mountain by 60.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock valued at $285,960,000 after acquiring an additional 1,546,592 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Iron Mountain by 214.7% in the third quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock worth $103,744,000 after purchasing an additional 1,178,754 shares in the last quarter. Invesco Ltd. boosted its stake in Iron Mountain by 49.7% in the third quarter. Invesco Ltd. now owns 3,243,435 shares of the financial services provider’s stock valued at $192,822,000 after acquiring an additional 1,077,339 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Iron Mountain during the third quarter valued at approximately $38,430,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 996 shares of Iron Mountain stock in a transaction on Monday, March 4th. The shares were 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 approximately $247,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $67.43, for a total transaction of $134,860.00. Following the transaction, the executive vice president now directly owns 48,026 shares in the company, valued at approximately $3,238,393.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Daniel Borges sold 996 shares of the business’s 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 transaction, the chief accounting officer now 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 164,124 shares of company stock worth $12,698,221. Insiders own 2.20% of the company’s stock.

Iron Mountain Trading Down 1.2 %

IRM stock traded down $0.93 during midday trading on Thursday, reaching $77.26. The company’s stock had a trading volume of 1,124,954 shares, compared to its average volume of 1,407,621. Iron Mountain Incorporated has a 52 week low of $52.81 and a 52 week high of $82.19. The stock has a market cap of $22.64 billion, a PE ratio of 124.11, a price-to-earnings-growth ratio of 4.61 and a beta of 0.94. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. The business’s 50-day simple moving average is $77.10 and its 200-day simple moving average is $69.11.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the business posted $0.98 earnings per share. Iron Mountain’s revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 4.16 EPS for the current year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were given a $0.65 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.60 annualized dividend and a yield of 3.37%. Iron Mountain’s dividend payout ratio is currently 412.70%.

Iron Mountain 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.