Vision Financial Markets LLC Makes New Investment in Iron Mountain Incorporated (NYSE:IRM)

Vision Financial Markets LLC purchased a new position in Iron Mountain Incorporated (NYSE:IRM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,350 shares of the financial services provider’s stock, valued at approximately $142,000.

A number of other hedge funds have also modified their holdings of the company. Arizona State Retirement System boosted its position in shares of Iron Mountain by 1.4% in the fourth quarter. Arizona State Retirement System now owns 85,199 shares of the financial services provider’s stock worth $8,955,000 after purchasing an additional 1,216 shares during the period. Cbre Investment Management Listed Real Assets LLC boosted its position in shares of Iron Mountain by 158.3% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 541,028 shares of the financial services provider’s stock worth $56,867,000 after acquiring an additional 331,536 shares during the last quarter. Assetmark Inc. boosted its position in shares of Iron Mountain by 50.8% during the fourth quarter. Assetmark Inc. now owns 73,214 shares of the financial services provider’s stock worth $7,696,000 after acquiring an additional 24,679 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of Iron Mountain by 16.9% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 2,280 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 329 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Iron Mountain by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider’s stock worth $365,656,000 after acquiring an additional 92,475 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. Insiders sold a total of 343,114 shares of company stock valued at $33,323,682 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

IRM has been the subject of a number of research reports. Wells Fargo & Company dropped 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 report on Tuesday, February 4th. Barclays dropped their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada upped their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain has an average rating of “Buy” and an average target price of $127.67.

Iron Mountain Price Performance

IRM stock opened at $88.38 on Thursday. The company has a market capitalization of $25.96 billion, a PE ratio of 144.88, a P/E/G ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24. The firm’s 50-day moving average is $101.46 and its 200 day moving average is $111.56.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. Sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.55%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s payout ratio is 514.75%.

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.