Catalyst Funds Management Pty Ltd Has $499,000 Position in Iron Mountain Incorporated (NYSE:IRM)

Catalyst Funds Management Pty Ltd cut its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 15.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,748 shares of the financial services provider’s stock after selling 900 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Iron Mountain were worth $499,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in shares of Iron Mountain by 2.8% during the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after purchasing an additional 1,446 shares during the period. Merit Financial Group LLC boosted its stake in Iron Mountain by 91.5% during the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after buying an additional 7,137 shares in the last quarter. Tidal Investments LLC increased its holdings in Iron Mountain by 254.1% in the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after buying an additional 14,737 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Iron Mountain by 151.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock valued at $961,000 after buying an additional 5,511 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Iron Mountain during the 3rd quarter worth about $24,122,000. 80.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IRM. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Friday. Barclays dropped their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Wells Fargo & Company dropped their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada boosted their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $127.67.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $86.68 on Friday. The firm has a 50 day simple moving average of $98.28 and a 200 day simple moving average of $110.05. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The firm has a market cap of $25.46 billion, a P/E ratio of 142.09, a P/E/G ratio of 5.15 and a beta of 1.04.

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

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

Insider Transactions at Iron Mountain

In other news, CAO Daniel Borges sold 6,433 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. This represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 327,242 shares of company stock worth $31,530,305 in the last quarter. 2.10% of the stock is owned by company insiders.

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.