Metis Global Partners LLC Decreases Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Metis Global Partners LLC lessened its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 15,085 shares of the financial services provider’s stock after selling 206 shares during the period. Metis Global Partners LLC’s holdings in Iron Mountain were worth $1,056,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of IRM. National Bank of Canada FI increased its stake in Iron Mountain by 7.5% in the fourth quarter. National Bank of Canada FI now owns 84,160 shares of the financial services provider’s stock worth $5,776,000 after purchasing an additional 5,886 shares during the period. One Charles Private Wealth Services LLC increased its stake in Iron Mountain by 7.1% in the fourth quarter. One Charles Private Wealth Services LLC now owns 11,474 shares of the financial services provider’s stock worth $803,000 after purchasing an additional 764 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Iron Mountain by 37.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 26,023 shares of the financial services provider’s stock worth $1,821,000 after purchasing an additional 7,144 shares during the period. Natixis Advisors L.P. increased its stake in Iron Mountain by 3.3% in the fourth quarter. Natixis Advisors L.P. now owns 163,295 shares of the financial services provider’s stock worth $11,427,000 after purchasing an additional 5,219 shares during the period. Finally, Fisher Asset Management LLC purchased a new stake in Iron Mountain in the fourth quarter worth $313,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In other Iron Mountain 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 value of $79,680.00. Following the completion of the sale, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at $247,600. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Iron Mountain 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 value of $79,680.00. Following the completion of the sale, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at $247,600. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 115,979 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 432,682 shares of the company’s stock, valued at $34,138,609.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,296 shares of company stock valued at $12,023,923. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IRM. Barclays increased their target price on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Stifel Nicolaus raised their price target on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Finally, Wells Fargo & Company raised their price target on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.80.

Iron Mountain Price Performance

Shares of IRM stock opened at $78.04 on Thursday. Iron Mountain Incorporated has a 1-year low of $52.81 and a 1-year high of $82.19. The stock’s 50-day moving average is $78.29 and its 200 day moving average is $70.30. The company has a market cap of $22.88 billion, a P/E ratio of 118.24, a PEG ratio of 4.51 and a beta of 0.96. 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 (NYSE:IRM) last issued its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a net margin of 5.45% and a return on equity of 282.93%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the business earned $0.98 EPS. Iron Mountain’s revenue for the quarter was up 11.0% compared to the same quarter last year. Research analysts predict that Iron Mountain Incorporated will post 4.18 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be given 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 is Monday, June 17th. Iron Mountain’s payout ratio is currently 393.95%.

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.