Versor Investments LP Takes $915,000 Position in Iron Mountain Incorporated (NYSE:IRM)

Versor Investments LP bought a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 8,707 shares of the financial services provider’s stock, valued at approximately $915,000.

Other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in shares of Iron Mountain by 2.8% during the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after purchasing an additional 1,446 shares during the last quarter. Merit Financial Group LLC grew its holdings in shares of Iron Mountain by 91.5% during the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after purchasing an additional 7,137 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Iron Mountain by 254.1% during the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after purchasing an additional 14,737 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of 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 valued at $961,000 after purchasing an additional 5,511 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Iron Mountain during the third quarter valued at approximately $24,122,000. 80.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the 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 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 disclosure for this sale can be found here. Insiders sold 162,391 shares of company stock worth $16,805,912 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on IRM shares. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company reduced their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Barclays reduced their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. 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 research report on Wednesday, November 27th. Finally, StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain presently has a consensus rating of “Buy” and an average price target of $127.67.

Iron Mountain Price Performance

IRM opened at $91.64 on Friday. The company has a market capitalization of $26.92 billion, a price-to-earnings ratio of 150.23, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01. Iron Mountain Incorporated has a 1-year low of $73.45 and a 1-year high of $130.24. The business has a 50 day moving average price of $102.35 and a two-hundred day moving average price of $111.89.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates 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. Equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS 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. Shareholders 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 yield of 3.43%. 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 dividend payout ratio is 514.75%.

About Iron Mountain

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.