Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Sargent Investment Group LLC

Sargent Investment Group LLC decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,357 shares of the financial services provider’s stock after selling 8,368 shares during the quarter. Iron Mountain comprises approximately 2.2% of Sargent Investment Group LLC’s holdings, making the stock its 13th largest position. Sargent Investment Group LLC owned approximately 0.05% of Iron Mountain worth $10,242,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in Iron Mountain in the 4th quarter worth about $16,590,000. Daiwa Securities Group Inc. increased its holdings in shares of Iron Mountain by 60.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock valued at $285,960,000 after acquiring an additional 1,546,592 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in Iron Mountain by 42.3% in the 4th quarter. Handelsbanken Fonder AB now owns 162,087 shares of the financial services provider’s stock valued at $11,343,000 after buying an additional 48,170 shares during the last quarter. Allworth Financial LP grew its holdings in Iron Mountain by 6,889.9% in the 4th quarter. Allworth Financial LP now owns 63,189 shares of the financial services provider’s stock valued at $4,422,000 after buying an additional 62,285 shares during the last quarter. Finally, Lee Danner & Bass Inc. increased its holdings in Iron Mountain by 118.8% during the 4th quarter. Lee Danner & Bass Inc. now owns 21,775 shares of the financial services provider’s stock valued at $1,524,000 after purchasing an additional 11,825 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Daniel Borges sold 996 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the sale, the chief accounting officer now directly owns 3,095 shares in the company, valued at $247,600. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $76.68, for a total transaction of $1,217,295.00. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at $22,670,442. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Daniel Borges sold 996 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the sale, the chief accounting officer now owns 3,095 shares in the company, valued at approximately $247,600. The disclosure for this sale can be found here. Insiders have sold a total of 164,124 shares of company stock worth $12,698,221 over the last three months. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IRM. Stifel Nicolaus raised their price target on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. TheStreet cut Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Barclays lifted their target price on Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Finally, Wells Fargo & Company lifted their target price on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. One equities research 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’s stock. According to MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus target price of $73.80.

Iron Mountain Trading Up 0.3 %

Shares of Iron Mountain stock traded up $0.26 during trading on Friday, reaching $77.52. 817,647 shares of the company were exchanged, compared to its average volume of 1,003,245. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. Iron Mountain Incorporated has a twelve month low of $52.81 and a twelve month high of $82.19. The business has a 50-day moving average price of $77.46 and a 200-day moving average price of $69.36. The firm has a market capitalization of $22.72 billion, a price-to-earnings ratio of 123.05, a P/E/G ratio of 4.64 and a beta of 0.94.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share 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 return on equity of 178.02% and a net margin of 5.44%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Sell-side analysts anticipate that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a $0.65 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.35%. Iron Mountain’s dividend payout ratio (DPR) is 412.70%.

About Iron Mountain

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.