Delta Investment Management LLC Takes $610,000 Position in Iron Mountain Incorporated (NYSE:IRM)

Delta Investment Management LLC purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,719 shares of the financial services provider’s stock, valued at approximately $610,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Stevens Capital Management LP acquired a new position in shares of Iron Mountain in the fourth quarter worth about $413,000. Bank of New Hampshire increased its holdings in Iron Mountain by 38.3% during the 4th quarter. Bank of New Hampshire now owns 795 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 220 shares during the last quarter. Bailard Inc. raised its position in shares of Iron Mountain by 5.7% in the 4th quarter. Bailard Inc. now owns 9,651 shares of the financial services provider’s stock valued at $675,000 after purchasing an additional 520 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Iron Mountain during the 4th quarter valued at approximately $105,000. Finally, Community Bank & Trust Waco Texas acquired a new stake in shares of Iron Mountain during the fourth quarter worth approximately $231,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Analysts Set New Price Targets

IRM has been the topic of several recent analyst reports. TheStreet cut shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Stifel Nicolaus upped their target price 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. Wells Fargo & Company lifted their price target on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Finally, Barclays upped their price objective on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. One investment 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’s stock. Based on data from MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and a consensus target price of $73.80.

Insiders Place Their Bets

In other news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $67.43, for a total transaction of $134,860.00. Following the completion of the transaction, the executive vice president now owns 48,026 shares in the company, valued at $3,238,393.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Iron Mountain news, CAO Daniel Borges sold 996 shares of Iron Mountain stock in a transaction on Monday, March 4th. The stock was sold at an average price of $80.00, for a total transaction of $79,680.00. Following the sale, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at approximately $247,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deborah Marson sold 2,000 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total value of $134,860.00. Following the completion of the transaction, the executive vice president now directly owns 48,026 shares of the company’s stock, valued at approximately $3,238,393.18. The disclosure for this sale can be found here. Insiders have sold 164,124 shares of company stock valued at $12,698,221 over the last three months. Company insiders own 2.20% of the company’s stock.

Iron Mountain Trading Up 0.3 %

Iron Mountain stock opened at $77.52 on Friday. Iron Mountain Incorporated has a 1 year low of $52.81 and a 1 year high of $82.19. The firm’s 50-day moving average is $77.46 and its 200-day moving average is $69.36. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $22.72 billion, a P/E ratio of 123.05, a PEG ratio of 4.64 and a beta of 0.94.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.48). The business had revenue of $1.42 billion for the quarter, compared to analyst estimates 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 last year, the company earned $0.98 EPS. On average, equities analysts expect that Iron Mountain Incorporated will post 4.18 earnings per share for the current year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a dividend of $0.65 per share. The ex-dividend date was Thursday, March 14th. This represents a $2.60 dividend on an annualized basis and a yield of 3.35%. Iron Mountain’s payout ratio is currently 412.70%.

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.