Foster & Motley Inc. Sells 5,113 Shares of Iron Mountain Incorporated (NYSE:IRM)

Foster & Motley Inc. cut its position in Iron Mountain Incorporated (NYSE:IRM) by 42.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,827 shares of the financial services provider’s stock after selling 5,113 shares during the quarter. Foster & Motley Inc.’s holdings in Iron Mountain were worth $478,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Deutsche Bank AG lifted its holdings in shares of Iron Mountain by 0.7% during the third quarter. Deutsche Bank AG now owns 4,571,545 shares of the financial services provider’s stock worth $271,778,000 after purchasing an additional 29,683 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Iron Mountain by 60.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after acquiring an additional 1,546,592 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Iron Mountain by 1.2% in the third quarter. Northern Trust Corp now owns 3,913,828 shares of the financial services provider’s stock worth $232,677,000 after acquiring an additional 47,902 shares during the period. Invesco Ltd. boosted its holdings in Iron Mountain by 49.7% in the third quarter. Invesco Ltd. now owns 3,243,435 shares of the financial services provider’s stock valued at $192,822,000 after acquiring an additional 1,077,339 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Iron Mountain by 315.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock valued at $179,079,000 after purchasing an additional 2,286,711 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Up 2.1 %

Shares of NYSE:IRM opened at $78.19 on Thursday. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78. Iron Mountain Incorporated has a 52-week low of $52.81 and a 52-week high of $82.19. The business’s 50 day simple moving average is $77.10 and its two-hundred day simple moving average is $69.11. The firm has a market cap of $22.92 billion, a P/E ratio of 124.11, a PEG ratio of 4.61 and a beta of 0.94.

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

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s payout ratio is presently 412.70%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated 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 completion of the transaction, 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 through the SEC website. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm’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 directly owns 295,650 shares in the company, valued at approximately $22,670,442. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 115,979 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $78.90, for a total transaction of $9,150,743.10. Following the completion of the sale, the chief executive officer now owns 432,682 shares of the company’s stock, valued at approximately $34,138,609.80. The disclosure for this sale can be found here. Insiders have sold 164,124 shares of company stock worth $12,698,221 in the last quarter. Insiders own 2.20% of the company’s stock.

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.