Iron Mountain Incorporated (NYSE:IRM) Shares Sold by AGF Management Ltd.

AGF Management Ltd. lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.1% during the fourth quarter, HoldingsChannel reports. The fund owned 2,133,904 shares of the financial services provider’s stock after selling 90,952 shares during the period. Iron Mountain comprises approximately 1.1% of AGF Management Ltd.’s investment portfolio, making the stock its 18th biggest holding. AGF Management Ltd.’s holdings in Iron Mountain were worth $224,295,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Key Financial Inc lifted its holdings in Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in Iron Mountain during the fourth quarter worth about $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Iron Mountain in the 3rd quarter valued at about $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain in the third quarter worth $36,000. Finally, Dunhill Financial LLC boosted its position in shares of Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after buying an additional 152 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 343,114 shares of company stock valued at $33,323,682. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on IRM. Wells Fargo & Company decreased their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays cut their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. dropped their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Finally, Royal Bank of Canada boosted their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $127.67.

Iron Mountain Price Performance

Iron Mountain stock opened at $83.26 on Tuesday. The business has a 50 day simple moving average of $99.84 and a 200 day simple moving average of $110.82. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24. The company has a market capitalization of $24.46 billion, a PE ratio of 136.48, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). The firm 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 business earned $0.52 EPS. Equities analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.77%. 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. 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.