Twin Tree Management LP Reduces Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Twin Tree Management LP lowered its stake in Iron Mountain Incorporated (NYSE:IRM) by 92.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,989 shares of the financial services provider’s stock after selling 254,449 shares during the quarter. Twin Tree Management LP’s holdings in Iron Mountain were worth $2,101,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. IMG Wealth Management Inc. purchased a new stake in Iron Mountain in the fourth quarter worth approximately $26,000. Madison Investment Advisors LLC bought a new position in Iron Mountain in the fourth quarter worth approximately $2,561,000. Commonwealth Equity Services LLC raised its position in Iron Mountain by 1.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 225,063 shares of the financial services provider’s stock worth $23,656,000 after acquiring an additional 2,361 shares during the period. Balboa Wealth Partners raised its position in Iron Mountain by 92.0% in the fourth quarter. Balboa Wealth Partners now owns 4,031 shares of the financial services provider’s stock worth $424,000 after acquiring an additional 1,931 shares during the period. Finally, Erste Asset Management GmbH raised its position in Iron Mountain by 6.4% in the fourth quarter. Erste Asset Management GmbH now owns 86,600 shares of the financial services provider’s stock worth $9,068,000 after acquiring an additional 5,200 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the sale, the chief accounting officer now directly owns 288 shares in the company, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction on 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 $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 327,242 shares of company stock worth $31,530,305. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

IRM has been the topic of several recent research reports. Barclays decreased their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Wells Fargo & Company decreased their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Finally, Royal Bank of Canada raised their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.67.

Iron Mountain Price Performance

Shares of IRM stock opened at $87.56 on Wednesday. The company has a market capitalization of $25.72 billion, a price-to-earnings ratio of 143.54, a PEG ratio of 5.15 and a beta of 1.04. The company’s fifty day moving average price is $97.73 and its 200-day moving average price is $109.69. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24.

Iron Mountain (NYSE:IRM) last announced 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 company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a $0.785 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s payout ratio is currently 514.75%.

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.