Courier Capital LLC Sells 8,292 Shares of Iron Mountain Incorporated (NYSE:IRM)

Courier Capital LLC cut its holdings in Iron Mountain Incorporated (NYSE:IRM) by 17.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,063 shares of the financial services provider’s stock after selling 8,292 shares during the quarter. Courier Capital LLC’s holdings in Iron Mountain were worth $2,804,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its stake in Iron Mountain by 1.8% in the 1st quarter. State Street Corp now owns 14,622,009 shares of the financial services provider’s stock worth $819,026,000 after buying an additional 261,765 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Iron Mountain by 12.1% during the first quarter. Geode Capital Management LLC now owns 7,781,928 shares of the financial services provider’s stock valued at $411,015,000 after purchasing an additional 837,623 shares in the last quarter. Cohen & Steers Inc. grew its position in shares of Iron Mountain by 163.9% during the second quarter. Cohen & Steers Inc. now owns 7,725,767 shares of the financial services provider’s stock valued at $438,926,000 after purchasing an additional 4,798,010 shares in the last quarter. Deutsche Bank AG grew its position in shares of Iron Mountain by 10.5% during the first quarter. Deutsche Bank AG now owns 4,584,196 shares of the financial services provider’s stock valued at $242,550,000 after purchasing an additional 436,842 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC purchased a new position in shares of Iron Mountain during the fourth quarter valued at about $224,698,000. 80.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Iron Mountain Stock Up 2.8 %

Shares of NYSE IRM opened at $80.14 on Thursday. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market cap of $23.42 billion, a P/E ratio of 127.21, a PEG ratio of 4.69 and a beta of 0.94. Iron Mountain Incorporated has a 1 year low of $49.61 and a 1 year high of $82.19. The firm has a 50-day simple moving average of $73.34 and a two-hundred day simple moving average of $66.81.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.48). The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.45 billion. Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 EPS. Research analysts anticipate that Iron Mountain Incorporated will post 4.16 earnings per share for the current year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Friday, March 15th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Thursday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is presently 412.70%.

Insider Transactions at Iron Mountain

In other news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $66.16, for a total transaction of $132,320.00. Following the transaction, the executive vice president now directly owns 50,026 shares of the company’s stock, valued at $3,309,720.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $66.16, for a total transaction of $132,320.00. Following the transaction, the executive vice president now directly owns 50,026 shares of the company’s stock, valued at $3,309,720.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Daniel Borges sold 996 shares of Iron Mountain stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $80.00, for a total transaction of $79,680.00. Following the transaction, the chief accounting officer now directly owns 3,095 shares in the company, valued at $247,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 171,983 shares of company stock valued at $13,030,171. 2.20% of the stock is currently owned by company insiders.

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.