Russell Investments Group Ltd. Decreases Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Russell Investments Group Ltd. lowered its position in Iron Mountain Incorporated (NYSE:IRM) by 11.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,855,832 shares of the financial services provider’s stock after selling 228,748 shares during the quarter. Russell Investments Group Ltd.’s holdings in Iron Mountain were worth $194,965,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IRM. IMG Wealth Management Inc. purchased a new stake in Iron Mountain during the 4th quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Iron Mountain in the fourth quarter worth $26,000. Key Financial Inc raised its holdings in Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 251 shares in the last quarter. Dunhill Financial LLC boosted its stake in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 152 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 155 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Trading Down 7.0 %

IRM opened at $77.31 on Friday. The business’s 50 day moving average is $92.35 and its 200-day moving average is $107.29. The stock has a market cap of $22.71 billion, a PE ratio of 126.74, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24.

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 the consensus estimate of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period in the previous year, the firm earned $0.52 EPS. As a group, analysts forecast 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 was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were issued a $0.785 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 4.06%. Iron Mountain’s dividend payout ratio is 514.75%.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 318,973 shares of company stock valued at $29,370,872 over the last three months. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on IRM shares. Barclays cut their target price on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday, March 31st. Finally, Wells Fargo & Company lowered their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.67.

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.