3,141 Shares in Iron Mountain Incorporated (NYSE:IRM) Acquired by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,141 shares of the financial services provider’s stock, valued at approximately $220,000.

Several other institutional investors have also recently modified their holdings of the stock. Raymond James & Associates lifted its stake in shares of Iron Mountain by 0.9% during the 3rd quarter. Raymond James & Associates now owns 359,759 shares of the financial services provider’s stock worth $21,388,000 after purchasing an additional 3,037 shares during the period. Brown Advisory Inc. increased its holdings in shares of Iron Mountain by 25.5% during the 3rd quarter. Brown Advisory Inc. now owns 9,870 shares of the financial services provider’s stock worth $587,000 after buying an additional 2,005 shares during the last quarter. Forsta AP Fonden increased its holdings in shares of Iron Mountain by 3.5% during the 3rd quarter. Forsta AP Fonden now owns 64,300 shares of the financial services provider’s stock worth $3,823,000 after buying an additional 2,200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Iron Mountain by 220.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 254,031 shares of the financial services provider’s stock valued at $15,102,000 after purchasing an additional 174,813 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Iron Mountain by 366.6% in the 3rd quarter. Mackenzie Financial Corp now owns 116,900 shares of the financial services provider’s stock valued at $6,690,000 after purchasing an additional 91,848 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. TheStreet downgraded 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 company an “overweight” rating in a report on Tuesday, March 5th. Wells Fargo & Company raised their target price on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. Finally, Stifel Nicolaus raised their target price on Iron Mountain from $65.00 to $76.00 and gave the company 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 company. According to MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.80.

Iron Mountain Price Performance

Shares of NYSE IRM traded up $0.44 during mid-day trading on Wednesday, reaching $78.04. 893,537 shares of the company traded hands, compared to its average volume of 1,421,293. Iron Mountain Incorporated has a fifty-two week low of $52.81 and a fifty-two week high of $82.19. The company has a debt-to-equity ratio of 674.63, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $22.88 billion, a PE ratio of 117.62, a price-to-earnings-growth ratio of 4.51 and a beta of 0.96. The stock has a fifty day simple moving average of $78.23 and a 200-day simple moving average of $70.24.

Iron Mountain (NYSE:IRM) last posted 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). Iron Mountain had a return on equity of 282.93% and a net margin of 5.45%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the firm posted $0.98 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities research analysts anticipate that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Monday, June 17th. Iron Mountain’s dividend payout ratio is 393.95%.

Insider Buying and Selling

In related news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $77.80, for a total value of $155,600.00. Following the completion of the sale, the executive vice president now directly owns 63,286 shares in the company, valued at approximately $4,923,650.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Daniel Borges sold 996 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 3,095 shares in the company, valued at $247,600. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $77.80, for a total value of $155,600.00. Following the sale, the executive vice president now owns 63,286 shares in the company, valued at $4,923,650.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 149,749 shares of company stock worth $11,748,676. 2.10% of the stock is currently owned by insiders.

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.