Iron Mountain Incorporated (NYSE:IRM) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 59.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,081,786 shares of the financial services provider’s stock after acquiring an additional 772,988 shares during the period. Russell Investments Group Ltd.’s holdings in Iron Mountain were worth $145,879,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of Iron Mountain by 201.7% during the 4th quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after buying an additional 242 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in Iron Mountain during the 4th quarter worth about $26,000. Manchester Capital Management LLC increased its position in Iron Mountain by 6,983.3% during the 3rd quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 419 shares in the last quarter. CVA Family Office LLC purchased a new stake in Iron Mountain during the 4th quarter worth about $32,000. Finally, Hanson & Doremus Investment Management purchased a new stake in Iron Mountain during the 3rd quarter worth about $28,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling

In other news, CAO Daniel Borges sold 996 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the transaction, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at $247,600. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Daniel Borges sold 996 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of the sale, the chief accounting officer now owns 3,095 shares in the company, valued at $247,600. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark Kidd sold 4,458 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $80.21, for a total value of $357,576.18. Following the completion of the sale, the executive vice president now owns 62,938 shares of the company’s stock, valued at approximately $5,048,256.98. The disclosure for this sale can be found here. Insiders sold a total of 164,124 shares of company stock worth $12,698,221 in the last three months. 2.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on IRM. Barclays lifted their price objective on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Wells Fargo & Company boosted their price target on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus upped their target price on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $73.80.

Iron Mountain Stock Performance

Shares of NYSE IRM traded up $0.26 during trading on Friday, reaching $77.52. The stock had a trading volume of 817,647 shares, compared to its average volume of 1,003,245. Iron Mountain Incorporated has a one year low of $52.81 and a one year high of $82.19. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market cap of $22.72 billion, a PE ratio of 123.05, a P/E/G ratio of 4.62 and a beta of 0.94. The firm’s 50 day moving average price is $77.46 and its two-hundred day moving average price is $69.29.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the firm posted $0.98 earnings per share. Iron Mountain’s revenue was up 11.0% compared to the same quarter last year. On average, research analysts forecast that Iron Mountain Incorporated will post 4.18 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.60 dividend on an annualized basis and a yield of 3.35%. Iron Mountain’s payout ratio is currently 412.70%.

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.