Pacer Advisors Inc. Trims Stake in Iron Mountain Incorporated (NYSE:IRM)


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Pacer Advisors Inc. reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 25.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,309,972 shares of the financial services provider’s stock after selling 437,245 shares during the quarter. Iron Mountain accounts for about 0.8% of Pacer Advisors Inc.’s holdings, making the stock its 12th largest holding. Pacer Advisors Inc. owned approximately 0.45% of Iron Mountain worth $48,482,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vantage Consulting Group Inc purchased a new position in shares of Iron Mountain in the 4th quarter worth about $26,000. Sittner & Nelson LLC purchased a new position in shares of Iron Mountain in the 4th quarter worth about $29,000. Concord Wealth Partners purchased a new position in shares of Iron Mountain in the 4th quarter worth about $29,000. ShoreHaven Wealth Partners LLC bought a new stake in shares of Iron Mountain in the 4th quarter valued at about $30,000. Finally, Charter Oak Capital Management LLC bought a new stake in shares of Iron Mountain in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

In other news, COO John Tomovcsik sold 46,014 shares of the stock in a transaction that occurred on Wednesday, January 27th. The stock was sold at an average price of $39.27, for a total value of $1,806,969.78. Following the completion of the transaction, the chief operating officer now owns 80,107 shares of the company’s stock, valued at approximately $3,145,801.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 15,783 shares of the stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of $32.35, for a total value of $510,580.05. Following the completion of the transaction, the chief executive officer now directly owns 210,501 shares of the company’s stock, valued at approximately $6,809,707.35. The disclosure for this sale can be found here. Insiders sold a total of 79,586 shares of company stock valued at $2,950,427 in the last three months. Corporate insiders own 2.10% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. TheStreet raised Iron Mountain from a “c+” rating to a “b” rating in a research note on Wednesday, February 24th. Wells Fargo & Company boosted their target price on Iron Mountain from $32.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, February 25th. Credit Suisse Group boosted their target price on Iron Mountain from $16.00 to $18.00 and gave the company an “underperform” rating in a research note on Wednesday, March 3rd. Finally, Zacks Investment Research raised Iron Mountain from a “sell” rating to a “hold” rating and set a $37.00 target price for the company in a research note on Monday, March 1st.

IRM traded down $0.18 during midday trading on Thursday, reaching $37.51. 16,789 shares of the company’s stock traded hands, compared to its average volume of 3,523,594. The firm has a fifty day moving average of $35.63 and a two-hundred day moving average of $30.46. The stock has a market capitalization of $10.81 billion, a price-to-earnings ratio of 81.94, a P/E/G ratio of 6.40 and a beta of 0.79. The company has a debt-to-equity ratio of 9.20, a current ratio of 0.60 and a quick ratio of 0.60. Iron Mountain Incorporated has a 52 week low of $21.54 and a 52 week high of $41.32.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Wednesday, February 24th. The financial services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.02). Iron Mountain had a net margin of 3.19% and a return on equity of 23.61%. During the same period in the prior year, the business posted $0.31 EPS. Sell-side analysts forecast that Iron Mountain Incorporated will post 2.28 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 6th. Stockholders of record on Monday, March 15th were given a $0.618 dividend. This represents a $2.47 annualized dividend and a dividend yield of 6.59%. The ex-dividend date of this dividend was Friday, March 12th. Iron Mountain’s dividend payout ratio is currently 107.86%.

Iron Mountain Profile

Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 90 million square feet across approximately 1,450 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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