55,728 Shares in Iron Mountain Incorporated (NYSE:IRM) Acquired by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 55,728 shares of the financial services provider’s stock, valued at approximately $5,858,000.

Other hedge funds also recently made changes to their positions in the company. Merit Financial Group LLC grew its holdings in Iron Mountain by 91.5% during the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after purchasing an additional 7,137 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Iron Mountain by 254.1% during 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 in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Iron Mountain by 151.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after acquiring an additional 5,511 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in shares of Iron Mountain in the third quarter worth about $24,122,000. Finally, World Investment Advisors LLC purchased a new position in Iron Mountain in the third quarter valued at about $554,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays cut their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. JPMorgan Chase & Co. cut their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Wells Fargo & Company decreased their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Saturday, March 22nd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Iron Mountain has an average rating of “Buy” and a consensus price target of $125.67.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the sale, the chief executive officer now owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 completion of the transaction, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 318,979 shares of company stock worth $30,666,904. 2.10% of the stock is owned by insiders.

Iron Mountain Stock Performance

Iron Mountain stock opened at $85.07 on Friday. Iron Mountain Incorporated has a 1 year low of $73.53 and a 1 year high of $130.24. The firm’s 50-day moving average is $94.97 and its 200-day moving average is $108.39. The company has a market cap of $24.99 billion, a P/E ratio of 139.46, a PEG ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The company had revenue of $1.58 billion during 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 quarter in the previous year, the firm earned $0.52 earnings per share. As a group, sell-side analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business 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 $0.785 dividend. The ex-dividend date is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.69%. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Iron Mountain Company 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.