Stevens Capital Management LP Purchases 1,806 Shares of Iron Mountain Incorporated (NYSE:IRM)

Stevens Capital Management LP raised its stake in Iron Mountain Incorporated (NYSE:IRM) by 102.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,564 shares of the financial services provider’s stock after acquiring an additional 1,806 shares during the quarter. Stevens Capital Management LP’s holdings in Iron Mountain were worth $375,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in IRM. Wealthfront Advisers LLC lifted its holdings in shares of Iron Mountain by 9,843.3% in the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock worth $721,562,000 after acquiring an additional 6,795,792 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after acquiring an additional 2,672,821 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Iron Mountain in the fourth quarter worth about $55,271,000. Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Iron Mountain by 158.3% in 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. Finally, Aew Capital Management L P lifted its holdings in shares of Iron Mountain by 55.6% in the fourth quarter. Aew Capital Management L P now owns 678,887 shares of the financial services provider’s stock worth $71,358,000 after acquiring an additional 242,490 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IRM shares. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company lowered their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Barclays lowered their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada upped their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $125.67.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the transaction, the chief accounting officer now owns 288 shares in the company, valued at $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 318,979 shares of company stock worth $30,666,904. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

NYSE:IRM opened at $87.64 on Monday. The company has a market capitalization of $25.74 billion, a PE ratio of 143.67, a P/E/G ratio of 5.15 and a beta of 1.04. The company has a 50 day simple moving average of $96.89 and a two-hundred day simple moving average of $109.17. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM) last released 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). The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates 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 prior year, the company posted $0.52 EPS. Research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is currently 514.75%.

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.