Knights of Columbus Asset Advisors LLC Boosts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Knights of Columbus Asset Advisors LLC grew its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,125 shares of the financial services provider’s stock after buying an additional 2,155 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Iron Mountain were worth $9,036,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Harbor Investment Advisory LLC raised its stake in Iron Mountain by 92.2% during the third quarter. Harbor Investment Advisory LLC now owns 417 shares of the financial services provider’s stock valued at $25,000 after buying an additional 200 shares in the last quarter. Manchester Capital Management LLC grew its position in shares of Iron Mountain by 6,983.3% in the 3rd quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 419 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Iron Mountain by 201.7% in the 4th 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 during the last quarter. First Capital Advisors Group LLC. acquired a new stake in shares of Iron Mountain during the 2nd quarter valued at approximately $25,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Iron Mountain in the 4th quarter worth about $26,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

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

Iron Mountain Stock Performance

Shares of NYSE:IRM traded up $0.41 during trading hours on Friday, hitting $74.83. The stock had a trading volume of 385,711 shares, compared to its average volume of 1,421,579. The stock’s fifty day simple moving average is $76.43 and its 200 day simple moving average is $68.51. The firm has a market capitalization of $21.87 billion, a price-to-earnings ratio of 118.11, a PEG ratio of 4.52 and a beta of 0.94. 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 1-year low of $52.81 and a 1-year high of $82.19.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. Sell-side analysts anticipate that Iron Mountain Incorporated will post 4.16 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. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain’s dividend payout ratio is currently 412.70%.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 115,979 shares of the business’s 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 sale, the chief executive officer now directly owns 432,682 shares in the company, valued at approximately $34,138,609.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction dated 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 owns 3,095 shares of the company’s stock, valued at $247,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 115,979 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was 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 in the company, valued at $34,138,609.80. The disclosure for this sale can be found here. Insiders sold 164,124 shares of company stock valued at $12,698,221 over the last 90 days. 2.20% of the stock is currently owned by company 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.