706 Shares in Iron Mountain Incorporated (NYSE:IRM) Acquired by EdgeRock Capital LLC

EdgeRock Capital LLC bought a new stake in Iron Mountain Incorporated (NYSE:IRM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 706 shares of the financial services provider’s stock, valued at approximately $49,000.

A number of other large investors also recently added to or reduced their stakes in IRM. Wellington Management Group LLP lifted its holdings in Iron Mountain by 315.2% during the 3rd 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 in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Iron Mountain by 60.9% in 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 purchasing an additional 1,546,592 shares during the period. Ameriprise Financial Inc. grew its stake in Iron Mountain by 214.7% during the 3rd 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. increased its holdings in Iron Mountain by 49.7% during the 3rd 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 during the period. Finally, Russell Investments Group Ltd. raised its position in Iron Mountain by 59.1% in the 4th quarter. Russell Investments Group Ltd. now owns 2,081,786 shares of the financial services provider’s stock valued at $145,879,000 after purchasing an additional 772,988 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Iron Mountain

In other news, CAO Daniel Borges sold 996 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at $247,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO William L. Meaney sold 115,979 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $78.90, for a total transaction of $9,150,743.10. Following the sale, the chief executive officer now owns 432,682 shares in the company, valued at $34,138,609.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Daniel Borges sold 996 shares of Iron Mountain 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 completion of the sale, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at $247,600. The disclosure for this sale can be found here. Insiders sold a total of 153,296 shares of company stock valued at $12,023,923 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

Iron Mountain stock traded up $0.44 during midday trading on Wednesday, reaching $78.04. The company’s stock had a trading volume of 893,537 shares, compared to its average volume of 1,421,338. The firm has a market capitalization of $22.88 billion, a PE ratio of 118.24, a P/E/G ratio of 4.51 and a beta of 0.96. Iron Mountain Incorporated has a fifty-two week low of $52.81 and a fifty-two week high of $82.19. The stock’s 50 day simple moving average is $78.23 and its 200 day simple moving average is $70.24. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.86 and a current ratio of 0.86.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results 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). The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a net margin of 5.45% and a return on equity of 282.93%. Iron Mountain’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 earnings per share. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.18 earnings per share for the current year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 annualized dividend and a dividend yield of 3.33%. Iron Mountain’s dividend payout ratio is presently 393.95%.

Analyst Upgrades and Downgrades

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

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.