Ninepoint Partners LP Sells 477 Shares of Iron Mountain Incorporated (NYSE:IRM)

Ninepoint Partners LP reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 22.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,674 shares of the financial services provider’s stock after selling 477 shares during the quarter. Ninepoint Partners LP’s holdings in Iron Mountain were worth $117,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in IRM. Harbor Investment Advisory LLC grew its stake in Iron Mountain by 92.2% during the 3rd quarter. Harbor Investment Advisory LLC now owns 417 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. Manchester Capital Management LLC increased its holdings in shares of Iron Mountain by 6,983.3% in the third quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 419 shares during the last quarter. Blue Trust Inc. increased its stake in Iron Mountain by 201.7% during the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 242 shares during the last quarter. First Capital Advisors Group LLC. acquired a new stake in Iron Mountain during the second quarter worth $25,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Iron Mountain during the fourth quarter worth $26,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $76.68, for a total value of $1,217,295.00. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at approximately $22,670,442. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at approximately $22,670,442. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Daniel Borges sold 996 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $80.00, for a total transaction of $79,680.00. Following the completion of the sale, the chief accounting officer now directly owns 3,095 shares in the company, valued at approximately $247,600. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 164,124 shares of company stock valued at $12,698,221. Insiders own 2.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on IRM. Stifel Nicolaus upped their price objective on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. TheStreet cut Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Barclays increased their price target on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, Wells Fargo & Company raised their price objective on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.80.

Iron Mountain Stock Performance

IRM traded up $0.41 on Friday, hitting $74.83. 385,711 shares of the stock traded hands, compared to its average volume of 1,421,579. Iron Mountain Incorporated has a 52 week low of $52.81 and a 52 week high of $82.19. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78. The firm has a market capitalization of $21.87 billion, a PE ratio of 118.11, a P/E/G ratio of 4.52 and a beta of 0.94. The business has a fifty day moving average price of $76.43 and a two-hundred day moving average price of $68.51.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.48). The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, research analysts predict that Iron Mountain Incorporated will post 4.16 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were paid a dividend of $0.65 per share. The ex-dividend date was Thursday, March 14th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.47%. Iron Mountain’s payout ratio is presently 412.70%.

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.