Vision Financial Markets LLC Makes New $142,000 Investment in Iron Mountain Incorporated (NYSE:IRM)

Vision Financial Markets LLC bought 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 SEC. The fund bought 1,350 shares of the financial services provider’s stock, valued at approximately $142,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in Iron Mountain by 2.8% during the 3rd 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 last quarter. Merit Financial Group LLC boosted 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 purchasing an additional 7,137 shares during the last quarter. Tidal Investments LLC boosted 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 purchasing an additional 14,737 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 5,511 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in Iron Mountain during the 3rd quarter worth $24,122,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mithu Bhargava sold 1,738 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the transaction, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at approximately $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 343,114 shares of company stock worth $33,323,682 over the last three months. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

IRM has been the topic of several analyst reports. Wells Fargo & Company reduced their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Barclays reduced their price target 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 Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Iron Mountain presently has an average rating of “Buy” and an average target price of $127.67.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $88.38 on Thursday. The firm has a market capitalization of $25.96 billion, a PE ratio of 144.88, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. The firm’s 50-day moving average is $101.46 and its two-hundred day moving average is $111.56. Iron Mountain Incorporated has a 1 year low of $73.53 and a 1 year high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter last year, the company earned $0.52 earnings per share. Analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.55%. Iron Mountain’s dividend payout ratio is 514.75%.

Iron Mountain Company 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.