Commerce Bank Lowers Position in Iron Mountain Incorporated (NYSE:IRM)

Commerce Bank trimmed its position in Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 92.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,614 shares of the financial services provider’s stock after selling 237,465 shares during the period. Commerce Bank’s holdings in Iron Mountain were worth $978,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Tobam lifted its position in shares of Iron Mountain by 8.4% during the fourth quarter. Tobam now owns 2,284 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 177 shares during the last quarter. Herbst Group LLC raised its stake in Iron Mountain by 0.8% in the third quarter. Herbst Group LLC now owns 25,300 shares of the financial services provider’s stock valued at $1,112,000 after buying an additional 200 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Iron Mountain by 1.1% in the fourth quarter. Louisiana State Employees Retirement System now owns 18,800 shares of the financial services provider’s stock worth $937,000 after buying an additional 200 shares during the last quarter. Coastline Trust Co raised its position in Iron Mountain by 4.0% during the 4th quarter. Coastline Trust Co now owns 5,196 shares of the financial services provider’s stock worth $259,000 after buying an additional 200 shares during the last quarter. Finally, Mariner LLC lifted its position in Iron Mountain by 1.1% during the first quarter. Mariner LLC now owns 19,352 shares of the financial services provider’s stock valued at $1,072,000 after purchasing an additional 204 shares during the period. Institutional investors own 77.12% of the company’s stock.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 62,904 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $52.78, for a total transaction of $3,320,073.12. Following the transaction, the chief executive officer now owns 376,320 shares of the company’s stock, valued at $19,862,169.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Iron Mountain news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction on Friday, February 24th. The shares were sold at an average price of $51.77, for a total value of $58,241.25. Following the transaction, the executive vice president now owns 59,419 shares in the company, valued at approximately $3,076,121.63. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 62,904 shares of Iron Mountain stock in a transaction on Monday, February 27th. The shares were sold at an average price of $52.78, for a total value of $3,320,073.12. Following the completion of the transaction, the chief executive officer now owns 376,320 shares in the company, valued at approximately $19,862,169.60. The disclosure for this sale can be found here. Insiders have sold 99,771 shares of company stock valued at $5,281,872 in the last ninety days. Insiders own 2.20% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM opened at $54.71 on Wednesday. The stock has a market capitalization of $15.95 billion, a P/E ratio of 27.63, a P/E/G ratio of 3.65 and a beta of 0.91. The company’s fifty day moving average is $53.43 and its two-hundred day moving average is $52.90. The company has a debt-to-equity ratio of 19.91, a quick ratio of 0.80 and a current ratio of 0.80. Iron Mountain Incorporated has a 1 year low of $43.33 and a 1 year high of $57.21.

Iron Mountain (NYSE:IRM – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The financial services provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.46). The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Iron Mountain had a net margin of 11.20% and a return on equity of 88.48%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. On average, sell-side analysts predict that Iron Mountain Incorporated will post 3.77 earnings per share for the current year.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th will be issued a $0.6185 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $2.47 dividend on an annualized basis and a yield of 4.52%. Iron Mountain’s dividend payout ratio (DPR) is 124.75%.

Wall Street Analyst Weigh In

IRM has been the subject of a number of recent analyst reports. Barclays lifted their price objective on shares of Iron Mountain from $56.00 to $64.00 in a report on Friday, May 5th. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 price objective on shares of Iron Mountain in a report on Monday, March 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $62.00.

Iron Mountain Company Profile

(Get Rating)

Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.