Promus Capital LLC Purchases New Holdings in Iron Mountain Incorporated (NYSE:IRM)

Promus Capital LLC acquired a new stake in shares of Iron Mountain Incorporated (NYSE:IRM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 572 shares of the financial services provider’s stock, valued at approximately $60,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vision Financial Markets LLC acquired a new stake in Iron Mountain during the fourth quarter valued at approximately $142,000. Arizona State Retirement System boosted its holdings in Iron Mountain by 1.4% during the fourth quarter. Arizona State Retirement System now owns 85,199 shares of the financial services provider’s stock valued at $8,955,000 after purchasing an additional 1,216 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its holdings in 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 valued at $56,867,000 after purchasing an additional 331,536 shares in the last quarter. Assetmark Inc. boosted its holdings in Iron Mountain by 50.8% during the fourth quarter. Assetmark Inc. now owns 73,214 shares of the financial services provider’s stock valued at $7,696,000 after purchasing an additional 24,679 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in Iron Mountain by 16.9% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 2,280 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 329 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IRM. Royal Bank of Canada lifted their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Barclays reduced their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Finally, BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $127.67.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 15,872 shares of the company’s 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. In the last 90 days, insiders sold 343,114 shares of company stock worth $33,323,682. Insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

IRM stock opened at $88.38 on Thursday. The company has a 50 day moving average price of $101.46 and a 200 day moving average price of $111.56. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The stock has a market capitalization of $25.96 billion, a PE ratio of 144.88, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share 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 company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the firm earned $0.52 EPS. As a group, equities 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 given a dividend of $0.785 per share. This is a boost 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 annualized dividend and a dividend yield of 3.55%. Iron Mountain’s payout ratio is presently 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.