Catalyst Capital Advisors LLC Has $4.61 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Catalyst Capital Advisors LLC reduced its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,825 shares of the financial services provider’s stock after selling 1,325 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Iron Mountain were worth $4,606,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction 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 trade represents a 38.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 162,391 shares of company stock valued at $16,805,912. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

IRM has been the topic of several recent analyst reports. Barclays cut their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada lifted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company lowered their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and an average target price of $129.17.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $95.34 on Monday. The company’s 50-day moving average price is $105.45 and its two-hundred day moving average price is $112.85. Iron Mountain Incorporated has a one year low of $67.09 and a one year high of $130.24. The stock has a market capitalization of $27.98 billion, a PE ratio of 264.85, a price-to-earnings-growth ratio of 5.84 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last issued its quarterly 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 company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a net margin of 1.77% and a negative return on equity of 44,660.04%. During the same period last year, the company posted $0.52 earnings per share. On average, analysts anticipate that Iron Mountain Incorporated will post 4.18 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.29%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s payout ratio is presently 794.47%.

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.