ING Groep NV Decreases Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

ING Groep NV reduced its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 86.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,074 shares of the financial services provider’s stock after selling 31,666 shares during the quarter. ING Groep NV’s holdings in Iron Mountain were worth $355,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Brown Advisory Inc. lifted its stake in shares of Iron Mountain by 2.3% during the 4th quarter. Brown Advisory Inc. now owns 10,094 shares of the financial services provider’s stock worth $706,000 after purchasing an additional 224 shares during the last quarter. Level Four Advisory Services LLC raised its stake in Iron Mountain by 8.5% in the fourth quarter. Level Four Advisory Services LLC now owns 14,496 shares of the financial services provider’s stock valued at $1,014,000 after buying an additional 1,135 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in Iron Mountain by 3.8% in the fourth quarter. Kingsview Wealth Management LLC now owns 7,468 shares of the financial services provider’s stock valued at $523,000 after buying an additional 274 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Iron Mountain by 98.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,552 shares of the financial services provider’s stock valued at $109,000 after buying an additional 769 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its holdings in shares of Iron Mountain by 31.6% in the fourth quarter. Foundations Investment Advisors LLC now owns 13,001 shares of the financial services provider’s stock valued at $901,000 after purchasing an additional 3,124 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Mark Kidd sold 4,458 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $80.21, for a total value of $357,576.18. Following the transaction, the executive vice president now owns 62,938 shares in the company, valued at $5,048,256.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Daniel Borges sold 996 shares of Iron Mountain 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 transaction, the chief accounting officer now owns 3,095 shares in the company, valued at $247,600. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Mark Kidd sold 4,458 shares of Iron Mountain stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $80.21, for a total value of $357,576.18. Following the transaction, the executive vice president now owns 62,938 shares in the company, valued at approximately $5,048,256.98. The disclosure for this sale can be found here. Insiders have sold a total of 153,296 shares of company stock worth $12,023,923 over the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on IRM shares. Wells Fargo & Company increased their price objective on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, March 15th. TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Finally, Barclays increased their price objective on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued 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 Stock Down 2.2 %

Iron Mountain stock opened at $81.01 on Thursday. The firm has a market cap of $23.75 billion, a price-to-earnings ratio of 122.74, a price-to-earnings-growth ratio of 4.96 and a beta of 0.96. Iron Mountain Incorporated has a 52 week low of $52.81 and a 52 week high of $83.00. The business’s 50-day moving average price is $78.46 and its 200 day moving average price is $71.82. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The business 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 282.93% and a net margin of 5.45%. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 EPS. As a group, sell-side analysts anticipate 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 will be paid on Friday, July 5th. Stockholders of record on Monday, June 17th will be given a $0.65 dividend. The ex-dividend date is Monday, June 17th. This represents a $2.60 annualized dividend and a dividend yield of 3.21%. Iron Mountain’s dividend payout ratio (DPR) is presently 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.