MeadowBrook Investment Advisors LLC Purchases New Position in Iron Mountain Incorporated (NYSE:IRM)

MeadowBrook Investment Advisors LLC bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,285 shares of the financial services provider’s stock, valued at approximately $160,000.

Several other institutional investors and hedge funds have also made changes to their positions in IRM. Global Retirement Partners LLC boosted its holdings in shares of Iron Mountain by 1.7% during the fourth quarter. Global Retirement Partners LLC now owns 9,216 shares of the financial services provider’s stock worth $612,000 after purchasing an additional 156 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its stake in shares of Iron Mountain by 17.1% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,171 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 171 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of Iron Mountain by 2.8% in the third quarter. J.W. Cole Advisors Inc. now owns 6,429 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 177 shares during the last quarter. Federated Hermes Inc. grew its holdings in Iron Mountain by 4.0% in the fourth quarter. Federated Hermes Inc. now owns 4,599 shares of the financial services provider’s stock valued at $322,000 after purchasing an additional 179 shares during the period. Finally, Aspire Private Capital LLC increased its position in Iron Mountain by 2.1% during the third quarter. Aspire Private Capital LLC now owns 9,290 shares of the financial services provider’s stock worth $552,000 after purchasing an additional 188 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Up 2.0 %

Iron Mountain stock traded up $1.48 during midday trading on Monday, hitting $76.80. 1,136,897 shares of the company were exchanged, compared to its average volume of 1,432,210. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. Iron Mountain Incorporated has a fifty-two week low of $52.81 and a fifty-two week high of $82.19. The company’s fifty day moving average price is $78.13 and its 200-day moving average price is $69.99. The company has a market cap of $22.51 billion, a PE ratio of 116.37, a price-to-earnings-growth ratio of 4.51 and a beta of 0.96.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.48). Iron Mountain had a net margin of 5.45% and a return on equity of 282.93%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter last year, the company posted $0.98 earnings per share. Iron Mountain’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, research analysts predict that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Monday, June 17th. Iron Mountain’s dividend payout ratio (DPR) is currently 393.95%.

Insider Buying and Selling

In other Iron Mountain news, CAO Daniel Borges sold 996 shares of the stock in a transaction 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 transaction, the chief accounting officer now directly owns 3,095 shares in the company, valued at approximately $247,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO William L. Meaney sold 115,979 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $78.90, for a total value of $9,150,743.10. Following the completion of the sale, the chief executive officer now directly owns 432,682 shares in the company, valued at approximately $34,138,609.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Daniel Borges sold 996 shares of Iron Mountain stock in a transaction on Monday, March 4th. The stock was sold at an average price of $80.00, for a total transaction of $79,680.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at approximately $247,600. The disclosure for this sale can be found here. Over the last quarter, insiders sold 149,749 shares of company stock worth $11,748,676. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on IRM shares. Barclays upped their price objective on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Stifel Nicolaus lifted 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. Wells Fargo & Company increased their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. Finally, TheStreet cut shares of Iron Mountain from a “b” rating to a “c” rating in a research 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.80.

Iron Mountain Company 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.