Iron Mountain Incorporated (NYSE:IRM) Position Raised by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd raised its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 109,465 shares of the financial services provider’s stock after buying an additional 5,393 shares during the period. UniSuper Management Pty Ltd’s holdings in Iron Mountain were worth $11,506,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. IMG Wealth Management Inc. bought a new position in Iron Mountain during the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Iron Mountain in the 4th quarter worth approximately $26,000. Key Financial Inc increased its holdings in shares of Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after buying an additional 251 shares in the last quarter. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain during the third quarter worth $36,000. Finally, Dunhill Financial LLC raised its holdings in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after buying an additional 152 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the transaction, the chief accounting officer now directly owns 288 shares in the company, valued at $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William L. Meaney sold 172,552 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the sale, the chief executive officer now owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. This trade represents a 42.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 318,979 shares of company stock worth $30,666,904. 2.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on IRM shares. JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Saturday, March 22nd. Barclays decreased their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Finally, Wells Fargo & Company dropped their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $125.67.

Iron Mountain Trading Down 1.7 %

IRM opened at $85.54 on Friday. The stock has a fifty day moving average price of $95.45 and a 200 day moving average price of $108.57. Iron Mountain Incorporated has a 1 year low of $73.53 and a 1 year high of $130.24. The stock has a market cap of $25.13 billion, a price-to-earnings ratio of 140.23, a PEG ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. As a group, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.67%. Iron Mountain’s dividend payout ratio is 514.75%.

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.