Delta Investment Management LLC Takes Position in Iron Mountain Incorporated (NYSE:IRM)

Delta Investment Management LLC purchased a new stake in Iron Mountain Incorporated (NYSE:IRM) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,719 shares of the financial services provider’s stock, valued at approximately $610,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Manchester Capital Management LLC raised its position in shares of 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 during the last quarter. Blue Trust Inc. lifted its position in shares of Iron Mountain by 201.7% in the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 242 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Iron Mountain in the fourth quarter worth approximately $26,000. Hanson & Doremus Investment Management acquired a new stake in shares of Iron Mountain in the third quarter worth approximately $28,000. Finally, CVA Family Office LLC purchased a new stake in shares of Iron Mountain during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on IRM. 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 report on Friday, March 15th. Stifel Nicolaus raised their price target on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. 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. Finally, TheStreet downgraded shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $73.80.

Iron Mountain Trading Up 0.3 %

IRM opened at $77.52 on Friday. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $22.72 billion, a price-to-earnings ratio of 123.05, a PEG ratio of 4.64 and a beta of 0.94. The business has a fifty day moving average price of $77.46 and a 200 day moving average price of $69.36. Iron Mountain Incorporated has a 12 month low of $52.81 and a 12 month high of $82.19.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 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 company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the firm posted $0.98 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Sell-side analysts expect that Iron Mountain Incorporated will post 4.18 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently announced 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. This represents a $2.60 annualized dividend and a yield of 3.35%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s payout ratio is 412.70%.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, April 15th. The shares were sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the sale, 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 Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Daniel Borges sold 996 shares of the company’s stock in a transaction on Monday, March 4th. The shares were 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 approximately $247,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $1,217,295.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $22,670,442. The disclosure for this sale can be found here. Insiders sold a total of 164,124 shares of company stock worth $12,698,221 over the last 90 days. 2.20% of the stock is owned by insiders.

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.