Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Ninepoint Partners LP

Ninepoint Partners LP cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 22.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,674 shares of the financial services provider’s stock after selling 477 shares during the period. Ninepoint Partners LP’s holdings in Iron Mountain were worth $117,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Blue Trust Inc. boosted its stake in Iron Mountain by 201.7% during the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 242 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Iron Mountain during the fourth quarter worth about $26,000. Harbor Investment Advisory LLC grew its position in shares of Iron Mountain by 92.2% in the 3rd quarter. Harbor Investment Advisory LLC now owns 417 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 200 shares in the last quarter. Manchester Capital Management LLC increased its stake in Iron Mountain by 6,983.3% during the third quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 419 shares during the last quarter. Finally, First Capital Advisors Group LLC. bought a new position in shares of Iron Mountain in the 2nd quarter worth about $25,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE IRM traded up $0.41 during trading hours on Friday, hitting $74.83. 385,711 shares of the company’s stock were exchanged, compared to its average volume of 1,421,579. 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’s 50-day moving average price is $76.43 and its 200-day moving average price is $68.51. The stock has a market capitalization of $21.87 billion, a price-to-earnings ratio of 118.11, a PEG ratio of 4.52 and a beta of 0.94. Iron Mountain Incorporated has a 1-year low of $52.81 and a 1-year high of $82.19.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates 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%. Iron Mountain’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 EPS. On average, sell-side analysts expect that Iron Mountain Incorporated will post 4.16 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain’s dividend payout ratio is presently 412.70%.

Insider Activity at Iron Mountain

In related news, CAO Daniel Borges sold 996 shares of Iron Mountain stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the sale, the chief accounting officer now directly owns 3,095 shares in the company, valued at $247,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO William L. Meaney sold 115,979 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $78.90, for a total transaction of $9,150,743.10. Following the sale, the chief executive officer now directly owns 432,682 shares in the company, valued at $34,138,609.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Daniel Borges sold 996 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the sale, the chief accounting officer now owns 3,095 shares in the company, valued at $247,600. The disclosure for this sale can be found here. Insiders sold a total of 164,124 shares of company stock valued at $12,698,221 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. 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. TheStreet downgraded shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Barclays increased their price objective on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Finally, Stifel Nicolaus raised their price target on shares of Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. One equities research 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 data from MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus price target of $73.80.

Iron Mountain Profile

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.