Trinity Legacy Partners LLC Raises Position in Iron Mountain Incorporated (NYSE:IRM)

Trinity Legacy Partners LLC boosted its position in Iron Mountain Incorporated (NYSE:IRM) by 4.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 44,469 shares of the financial services provider’s stock after purchasing an additional 2,039 shares during the period. Trinity Legacy Partners LLC’s holdings in Iron Mountain were worth $4,674,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of IRM. Concurrent Investment Advisors LLC lifted its position in shares of Iron Mountain by 3.5% during the 4th quarter. Concurrent Investment Advisors LLC now owns 6,393 shares of the financial services provider’s stock valued at $672,000 after buying an additional 218 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Iron Mountain by 1.2% in the 4th quarter. Handelsbanken Fonder AB now owns 209,970 shares of the financial services provider’s stock valued at $22,070,000 after acquiring an additional 2,425 shares during the period. WealthBridge Capital Management LLC raised its stake in Iron Mountain by 2.5% in the 4th quarter. WealthBridge Capital Management LLC now owns 13,181 shares of the financial services provider’s stock valued at $1,385,000 after acquiring an additional 322 shares during the period. Financial Sense Advisors Inc. bought a new position in Iron Mountain during the fourth quarter worth about $233,000. Finally, Private Advisor Group LLC boosted its position in Iron Mountain by 2.2% during the fourth quarter. Private Advisor Group LLC now owns 95,080 shares of the financial services provider’s stock worth $9,994,000 after purchasing an additional 2,012 shares during the period. 80.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on IRM shares. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Royal Bank of Canada lifted their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Barclays dropped their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. cut their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Iron Mountain presently has a consensus rating of “Moderate Buy” and an average target price of $127.67.

Insider Activity

In related news, CEO William L. Meaney sold 69,131 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 162,391 shares of company stock worth $16,805,912. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Performance

Shares of IRM stock opened at $93.39 on Friday. Iron Mountain Incorporated has a 52-week low of $67.89 and a 52-week high of $130.24. The business’s fifty day moving average is $103.91 and its 200 day moving average is $112.39. The company has a market capitalization of $27.43 billion, a PE ratio of 153.10, a price-to-earnings-growth ratio of 5.11 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results 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 net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the previous year, the business earned $0.52 EPS. On average, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is currently 468.85%.

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.