Twin Tree Management LP Trims Stake in Iron Mountain Incorporated (NYSE:IRM)

Twin Tree Management LP reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 92.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,989 shares of the financial services provider’s stock after selling 254,449 shares during the period. Twin Tree Management LP’s holdings in Iron Mountain were worth $2,101,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. OneDigital Investment Advisors LLC grew its position in shares of Iron Mountain by 1.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock valued at $711,000 after purchasing an additional 89 shares in the last quarter. Geller Advisors LLC grew its position in Iron Mountain by 2.9% in the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock worth $403,000 after acquiring an additional 96 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in Iron Mountain by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock worth $2,644,000 after acquiring an additional 100 shares in the last quarter. Premier Path Wealth Partners LLC grew its position in Iron Mountain by 3.9% in the fourth quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 106 shares in the last quarter. Finally, Mather Group LLC. grew its position in Iron Mountain by 4.6% in the fourth quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider’s stock worth $271,000 after acquiring an additional 113 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 69,131 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 172,552 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were 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 in the company, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 327,242 shares of company stock valued at $31,530,305. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

IRM stock opened at $87.56 on Wednesday. Iron Mountain Incorporated has a 1 year low of $73.53 and a 1 year high of $130.24. The company has a market cap of $25.72 billion, a P/E ratio of 143.54, a PEG ratio of 5.15 and a beta of 1.04. The firm has a 50-day moving average of $97.73 and a 200 day moving average of $109.69.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) 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 company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the company earned $0.52 earnings per share. On average, equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.59%. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. cut their price target 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. Barclays cut their price target 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. Wells Fargo & Company cut their price target 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. Finally, Royal Bank of Canada upped their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. One research 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. Based on data from MarketBeat.com, Iron Mountain currently has an average rating of “Moderate Buy” and an average target price of $127.67.

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.