Financial Management Professionals Inc. Increases Position in Iron Mountain Incorporated (NYSE:IRM)

Financial Management Professionals Inc. increased its stake in Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 18.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,594 shares of the financial services provider’s stock after acquiring an additional 723 shares during the quarter. Financial Management Professionals Inc.’s holdings in Iron Mountain were worth $229,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new position in shares of Iron Mountain in the 3rd quarter valued at about $2,038,000. Cambridge Trust Co. purchased a new position in Iron Mountain during the 2nd quarter valued at about $36,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in Iron Mountain by 440.1% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 767 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 625 shares in the last quarter. Allworth Financial LP increased its holdings in Iron Mountain by 132.0% during the 3rd quarter. Allworth Financial LP now owns 775 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 441 shares in the last quarter. Finally, First Personal Financial Services purchased a new position in Iron Mountain during the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on IRM shares. Royal Bank of Canada restated a “sector perform” rating and set a $58.00 target price on shares of Iron Mountain in a report on Monday, March 6th. Exane BNP Paribas assumed coverage on shares of Iron Mountain in a report on Wednesday, December 14th. They set an “outperform” rating for the company. BNP Paribas assumed coverage on shares of Iron Mountain in a research note on Wednesday, December 14th. They set an “outperform” rating and a $66.00 price target on the stock. Finally, StockNews.com assumed coverage on shares of Iron Mountain in a research note on Thursday. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.80.

Iron Mountain Trading Down 3.4 %

Shares of Iron Mountain stock traded down $1.79 during mid-day trading on Friday, hitting $50.29. 3,799,746 shares of the stock were exchanged, compared to its average volume of 1,563,445. The company has a 50-day simple moving average of $52.91 and a 200 day simple moving average of $51.41. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 16.46. Iron Mountain Incorporated has a twelve month low of $43.33 and a twelve month high of $58.61. The stock has a market capitalization of $14.63 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 3.58 and a beta of 0.89.

Iron Mountain (NYSE:IRM – Get Rating) last released its earnings results on Thursday, February 23rd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.46). Iron Mountain had a return on equity of 79.49% and a net margin of 10.91%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the business posted $0.74 earnings per share. Iron Mountain’s revenue was up 10.3% on a year-over-year basis. Research analysts forecast that Iron Mountain Incorporated will post 3.64 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Investors of record on Wednesday, March 15th will be given a $0.6185 dividend. The ex-dividend date is Tuesday, March 14th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.62. This represents a $2.47 annualized dividend and a dividend yield of 4.92%. Iron Mountain’s dividend payout ratio (DPR) is currently 130.00%.

Insider Buying and Selling

In other Iron Mountain news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $53.72, for a total transaction of $60,435.00. Following the transaction, the executive vice president now directly owns 63,151 shares of the company’s stock, valued at $3,392,471.72. The sale was disclosed in a filing with the SEC, which is available at this link. In other Iron Mountain news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $53.72, for a total transaction of $60,435.00. Following the transaction, the executive vice president now directly owns 63,151 shares of the company’s stock, valued at $3,392,471.72. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 10,507 shares of Iron Mountain stock in a transaction that occurred on Thursday, January 12th. The shares were sold at an average price of $51.76, for a total transaction of $543,842.32. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $15,302,844. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,059 shares of company stock valued at $5,502,935. Insiders own 2.10% of the company’s stock.

Iron Mountain Company Profile

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Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.