Iron Mountain Incorporated (NYSE:IRM) Stake Lifted by WASHINGTON TRUST Co

WASHINGTON TRUST Co increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 89.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,761 shares of the financial services provider’s stock after buying an additional 3,195 shares during the quarter. WASHINGTON TRUST Co’s holdings in Iron Mountain were worth $473,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its stake in Iron Mountain by 15.1% during the 1st quarter. Acadian Asset Management LLC now owns 2,503 shares of the financial services provider’s stock valued at $137,000 after buying an additional 328 shares during the period. Panagora Asset Management Inc. lifted its holdings in Iron Mountain by 71.3% in the 1st quarter. Panagora Asset Management Inc. now owns 18,549 shares of the financial services provider’s stock valued at $1,028,000 after acquiring an additional 7,719 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Iron Mountain by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,743 shares of the financial services provider’s stock valued at $2,147,000 after acquiring an additional 2,399 shares during the last quarter. APG Asset Management N.V. lifted its holdings in Iron Mountain by 13.0% in the 1st quarter. APG Asset Management N.V. now owns 18,205 shares of the financial services provider’s stock valued at $907,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its holdings in Iron Mountain by 52.8% in the 1st quarter. Raymond James Trust N.A. now owns 7,552 shares of the financial services provider’s stock valued at $419,000 after acquiring an additional 2,608 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, EVP Mark Kidd sold 11,376 shares of Iron Mountain stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $69.90, for a total transaction of $795,182.40. Following the transaction, the executive vice president now owns 42,739 shares in the company, valued at approximately $2,987,456.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Robin Matlock sold 941 shares of Iron Mountain stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $69.28, for a total value 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 legal filing with the SEC, which can be accessed through this link. Also, EVP Mark Kidd sold 11,376 shares of Iron Mountain stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $69.90, for a total value of $795,182.40. Following the completion of the sale, the executive vice president now directly owns 42,739 shares in the company, valued at approximately $2,987,456.10. The disclosure for this sale can be found here. Insiders have sold 171,983 shares of company stock worth $13,030,171 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Iron Mountain Trading Up 0.3 %

Iron Mountain stock traded up $0.28 during mid-day trading on Thursday, hitting $80.42. The stock had a trading volume of 403,686 shares, compared to its average volume of 1,502,883. The stock has a 50-day simple moving average of $73.34 and a two-hundred day simple moving average of $66.81. The stock has a market capitalization of $23.51 billion, a PE ratio of 127.65, a P/E/G ratio of 4.69 and a beta of 0.94. Iron Mountain Incorporated has a 12 month low of $50.49 and a 12 month high of $82.19. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78.

Iron Mountain (NYSE:IRM) last issued its 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). Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the business posted $0.98 EPS. Iron Mountain’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts forecast that Iron Mountain Incorporated will post 4.16 EPS for the current year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Thursday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 412.70%.

About Iron Mountain

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.