Prime Capital Investment Advisors LLC Raises Position in Iron Mountain Incorporated (NYSE:IRM)

Prime Capital Investment Advisors LLC increased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 105.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,105 shares of the financial services provider’s stock after buying an additional 3,641 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Iron Mountain were worth $497,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp raised its position in shares of Iron Mountain by 1.8% in the first quarter. State Street Corp now owns 14,622,009 shares of the financial services provider’s stock worth $819,026,000 after buying an additional 261,765 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Iron Mountain by 12.1% in the first quarter. Geode Capital Management LLC now owns 7,781,928 shares of the financial services provider’s stock worth $411,015,000 after buying an additional 837,623 shares in the last quarter. Deutsche Bank AG increased its stake in Iron Mountain by 10.5% in the first quarter. Deutsche Bank AG now owns 4,584,196 shares of the financial services provider’s stock valued at $242,550,000 after acquiring an additional 436,842 shares during the last quarter. Moneta Group Investment Advisors LLC bought a new position in Iron Mountain in the fourth quarter valued at $224,698,000. Finally, Northern Trust Corp increased its stake in Iron Mountain by 1.2% in the third quarter. Northern Trust Corp now owns 3,913,828 shares of the financial services provider’s stock valued at $232,677,000 after acquiring an additional 47,902 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Down 4.4 %

Shares of NYSE:IRM opened at $75.69 on Thursday. The stock’s 50-day moving average price is $75.64 and its 200-day moving average price is $67.92. Iron Mountain Incorporated has a 12-month low of $52.05 and a 12-month high of $82.19. The stock has a market capitalization of $22.12 billion, a P/E ratio of 120.14, a price-to-earnings-growth ratio of 4.73 and a beta of 0.94. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $0.98 earnings per share. On average, equities analysts anticipate that Iron Mountain Incorporated will post 4.16 earnings per share for the current year.

Iron Mountain Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a $0.65 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.60 annualized dividend and a dividend yield of 3.44%. Iron Mountain’s payout ratio is presently 412.70%.

Insider Buying and Selling

In related news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $78.48, for a total value of $156,960.00. Following the sale, the executive vice president now directly owns 65,286 shares of the company’s stock, valued at $5,123,645.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Iron Mountain news, CAO Daniel Borges sold 996 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $78.48, for a total transaction of $156,960.00. Following the completion of the sale, the executive vice president now owns 65,286 shares of the company’s stock, valued at $5,123,645.28. The disclosure for this sale can be found here. Insiders have sold 148,249 shares of company stock valued at $11,480,926 over the last ninety days. 2.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Barclays increased 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. Wells Fargo & Company increased 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. Stifel Nicolaus increased their target price on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Finally, TheStreet cut Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.80.

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.