Tradewinds LLC. Buys Shares of 4,415 Iron Mountain Incorporated (NYSE:IRM)

Tradewinds LLC. bought a new position in Iron Mountain Incorporated (NYSE:IRM) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 4,415 shares of the financial services provider’s stock, valued at approximately $464,000.

Several other hedge funds have also recently modified their holdings of IRM. Franklin Resources Inc. lifted its stake in Iron Mountain by 3.1% during the 4th quarter. Franklin Resources Inc. now owns 124,916 shares of the financial services provider’s stock valued at $13,130,000 after acquiring an additional 3,707 shares during the period. B. Metzler seel. Sohn & Co. AG lifted its holdings in shares of Iron Mountain by 7.2% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 24,698 shares of the financial services provider’s stock valued at $2,594,000 after buying an additional 1,651 shares during the period. Summit Financial LLC grew its holdings in shares of Iron Mountain by 39.7% in the fourth quarter. Summit Financial LLC now owns 6,135 shares of the financial services provider’s stock worth $648,000 after acquiring an additional 1,744 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Iron Mountain by 14.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 24,473 shares of the financial services provider’s stock worth $2,572,000 after purchasing an additional 3,008 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Iron Mountain during the 4th quarter valued at about $210,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 69,131 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the sale, the chief accounting officer now owns 288 shares in the company, valued at $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 318,979 shares of company stock valued at $30,666,904. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM stock opened at $86.14 on Tuesday. The stock has a fifty day simple moving average of $94.51 and a two-hundred day simple moving average of $108.10. The firm has a market capitalization of $25.30 billion, a PE ratio of 141.21, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM) last released its 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). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the prior year, the business posted $0.52 EPS. On average, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.65%. Iron Mountain’s dividend payout ratio is currently 514.75%.

Analysts Set New Price Targets

Several analysts recently issued reports on IRM shares. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday. Barclays reduced their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Wells Fargo & Company lowered their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.67.

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.