Duality Advisers LP Cuts Stake in Iron Mountain Incorporated (NYSE:IRM)

Duality Advisers LP reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 90.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,342 shares of the financial services provider’s stock after selling 52,530 shares during the quarter. Duality Advisers LP’s holdings in Iron Mountain were worth $374,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IRM. Manchester Capital Management LLC boosted its holdings in shares of Iron Mountain by 6,983.3% in the 3rd quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock worth $25,000 after buying an additional 419 shares during the last quarter. Blue Trust Inc. increased its position in shares of Iron Mountain by 201.7% in the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 242 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in Iron Mountain in the fourth quarter worth approximately $26,000. Hanson & Doremus Investment Management purchased a new stake in Iron Mountain in the third quarter worth approximately $28,000. Finally, CVA Family Office LLC purchased a new stake in Iron Mountain in the fourth quarter worth approximately $32,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IRM. Stifel Nicolaus increased their price objective on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Wells Fargo & Company upped their target price on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, March 15th. TheStreet downgraded Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Finally, Barclays upped their target price on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.80.

Iron Mountain Stock Down 1.2 %

IRM stock opened at $77.29 on Friday. Iron Mountain Incorporated has a twelve month low of $52.81 and a twelve month high of $82.19. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. The stock has a market cap of $22.65 billion, a P/E ratio of 122.68, a PEG ratio of 4.70 and a beta of 0.94. The business’s 50-day moving average price is $77.27 and its 200-day moving average price is $69.16.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.48). The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $0.98 EPS. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.16 EPS for the current year.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain’s payout ratio is 412.70%.

Insider Transactions at Iron Mountain

In related news, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total transaction of $134,860.00. Following the completion of the transaction, the executive vice president now owns 48,026 shares in the company, valued at approximately $3,238,393.18. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total value of $134,860.00. Following the completion of the sale, the executive vice president now directly owns 48,026 shares in the company, valued at approximately $3,238,393.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $76.68, for a total value of $1,217,295.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $22,670,442. The disclosure for this sale can be found here. In the last 90 days, insiders sold 164,124 shares of company stock worth $12,698,221. 2.20% of the stock is currently owned by company insiders.

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.