Alberta Investment Management Corp Has $2.57 Million Holdings in Iron Mountain Incorporated (NYSE:IRM)

Alberta Investment Management Corp decreased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 36.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 24,400 shares of the financial services provider’s stock after selling 13,800 shares during the period. Alberta Investment Management Corp’s holdings in Iron Mountain were worth $2,565,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. PNC Financial Services Group Inc. grew its position in shares of Iron Mountain by 2.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after buying an additional 1,446 shares during the last quarter. Merit Financial Group LLC lifted its stake in shares of Iron Mountain by 91.5% in the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after acquiring an additional 7,137 shares during the period. Tidal Investments LLC boosted its holdings in Iron Mountain by 254.1% in the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after acquiring an additional 14,737 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock valued at $961,000 after purchasing an additional 5,511 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in Iron Mountain during the 3rd quarter worth approximately $24,122,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 15,872 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 162,391 shares of company stock valued at $16,805,912. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

IRM has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday. Wells Fargo & Company cut their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada lifted their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Barclays cut their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.67.

Iron Mountain Price Performance

IRM opened at $93.39 on Friday. Iron Mountain Incorporated has a 1 year low of $67.89 and a 1 year high of $130.24. The company has a market capitalization of $27.43 billion, a price-to-earnings ratio of 153.10, a P/E/G ratio of 5.19 and a beta of 1.01. The firm’s fifty day moving average price is $103.91 and its two-hundred day moving average price is $112.39.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. As a group, equities analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be paid a $0.785 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.36%. Iron Mountain’s dividend payout ratio is presently 468.85%.

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.