PGGM Investments Grows Position in Iron Mountain Incorporated (NYSE:IRM)

PGGM Investments lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 9.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,894 shares of the financial services provider’s stock after purchasing an additional 1,438 shares during the quarter. PGGM Investments’ holdings in Iron Mountain were worth $1,112,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its position in Iron Mountain by 201.7% during the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 242 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Iron Mountain during the 4th quarter valued at approximately $26,000. Manchester Capital Management LLC grew its stake in 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 valued at $25,000 after acquiring an additional 419 shares during the period. CVA Family Office LLC purchased a new stake in Iron Mountain in the 4th quarter worth $32,000. Finally, Hanson & Doremus Investment Management acquired a new position in Iron Mountain during the third quarter worth $28,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $77.97 on Tuesday. The business’s fifty day simple moving average is $77.66 and its 200-day simple moving average is $69.54. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. The firm has a market cap of $22.85 billion, a PE ratio of 123.76, a price-to-earnings-growth ratio of 4.64 and a beta of 0.94. Iron Mountain Incorporated has a 52 week low of $52.81 and a 52 week high of $82.19.

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). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. Equities analysts forecast that Iron Mountain Incorporated will post 4.18 earnings per share for the current year.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is 412.70%.

Insider Buying and Selling at Iron Mountain

In other news, EVP Mark Kidd sold 4,458 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $80.21, for a total transaction of $357,576.18. Following the sale, the executive vice president now owns 62,938 shares of the company’s stock, valued at $5,048,256.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Daniel Borges sold 996 shares of the business’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Kidd sold 4,458 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $80.21, for a total value of $357,576.18. Following the completion of the sale, the executive vice president now directly owns 62,938 shares in the company, valued at approximately $5,048,256.98. The disclosure for this sale can be found here. Insiders sold a total of 164,124 shares of company stock valued at $12,698,221 in the last three months. 2.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on IRM shares. TheStreet lowered shares of Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Wells Fargo & Company increased 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. Stifel Nicolaus lifted their price target on Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, Barclays increased their price objective on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.80.

About Iron Mountain

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.