MeadowBrook Investment Advisors LLC Acquires Shares of 2,285 Iron Mountain Incorporated (NYSE:IRM)

MeadowBrook Investment Advisors LLC bought a new position in Iron Mountain Incorporated (NYSE:IRM) during the fourth quarter, HoldingsChannel reports. The firm bought 2,285 shares of the financial services provider’s stock, valued at approximately $160,000.

A number of other large investors also recently modified their holdings of IRM. Spire Wealth Management lifted its stake in shares of Iron Mountain by 258.6% in the fourth quarter. Spire Wealth Management now owns 9,896 shares of the financial services provider’s stock valued at $662,000 after buying an additional 7,136 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Iron Mountain by 7.5% in the 4th quarter. National Bank of Canada FI now owns 84,160 shares of the financial services provider’s stock worth $5,776,000 after acquiring an additional 5,886 shares during the last quarter. One Charles Private Wealth Services LLC lifted its position in Iron Mountain by 7.1% in the 4th quarter. One Charles Private Wealth Services LLC now owns 11,474 shares of the financial services provider’s stock valued at $803,000 after acquiring an additional 764 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Iron Mountain by 37.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 26,023 shares of the financial services provider’s stock valued at $1,821,000 after purchasing an additional 7,144 shares during the last quarter. Finally, Natixis Advisors L.P. increased its holdings in Iron Mountain by 3.3% during the 4th quarter. Natixis Advisors L.P. now owns 163,295 shares of the financial services provider’s stock worth $11,427,000 after purchasing an additional 5,219 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Insider Transactions at Iron Mountain

In related news, CAO Daniel Borges sold 996 shares of the company’s 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 sale, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at approximately $247,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Daniel Borges sold 996 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $80.00, for a total transaction of $79,680.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,095 shares in the company, valued at $247,600. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William L. Meaney sold 115,979 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $78.90, for a total value of $9,150,743.10. Following the completion of the transaction, the chief executive officer now owns 432,682 shares in the company, valued at $34,138,609.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 149,749 shares of company stock valued at $11,748,676. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Performance

Shares of IRM stock traded up $1.48 during trading hours on Monday, hitting $76.80. 1,136,897 shares of the company were exchanged, compared to its average volume of 1,432,210. Iron Mountain Incorporated has a 52-week low of $52.81 and a 52-week high of $82.19. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 674.63. The firm has a fifty day simple moving average of $78.13 and a 200 day simple moving average of $69.99. The stock has a market capitalization of $22.51 billion, a price-to-earnings ratio of 116.37, a P/E/G ratio of 4.51 and a beta of 0.96.

Iron Mountain (NYSE:IRM) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $1.45 billion. Iron Mountain had a return on equity of 282.93% and a net margin of 5.45%. Iron Mountain’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. Research analysts predict that Iron Mountain Incorporated will post 4.18 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Monday, June 17th. Iron Mountain’s dividend payout ratio is presently 393.95%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on IRM shares. TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Wells Fargo & Company raised their price objective on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Barclays upped their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, Stifel Nicolaus increased their target price 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. One research 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. According to MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and an average target price 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.