Principal Financial Group Inc. Cuts Stake in Iron Mountain Incorporated (NYSE:IRM)

Principal Financial Group Inc. lessened its position in shares of Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 1.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 355,756 shares of the financial services provider’s stock after selling 6,915 shares during the period. Principal Financial Group Inc. owned about 0.12% of Iron Mountain worth $17,734,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of IRM. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of Iron Mountain by 440.1% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 767 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 625 shares during the last quarter. Accurate Wealth Management LLC purchased a new position in shares of Iron Mountain in the 4th quarter valued at $48,000. CENTRAL TRUST Co grew its position in shares of Iron Mountain by 45.2% in the 3rd quarter. CENTRAL TRUST Co now owns 1,605 shares of the financial services provider’s stock valued at $71,000 after buying an additional 500 shares during the last quarter. Spire Wealth Management grew its position in shares of Iron Mountain by 104.1% in the 4th quarter. Spire Wealth Management now owns 1,531 shares of the financial services provider’s stock valued at $76,000 after buying an additional 781 shares during the last quarter. Finally, Baldwin Brothers LLC MA grew its position in shares of Iron Mountain by 67.3% in the 4th quarter. Baldwin Brothers LLC MA now owns 2,008 shares of the financial services provider’s stock valued at $100,000 after buying an additional 808 shares during the last quarter. 77.12% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

Iron Mountain stock opened at $55.04 on Tuesday. Iron Mountain Incorporated has a 1 year low of $43.33 and a 1 year high of $57.21. The firm has a 50 day moving average price of $53.38 and a 200 day moving average price of $52.86. The company has a market cap of $16.05 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 3.67 and a beta of 0.91. 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 (NYSE:IRM – Get Rating) last released its earnings results on Thursday, February 23rd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.46). Iron Mountain had a net margin of 11.20% and a return on equity of 88.48%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Iron Mountain’s revenue for the quarter was up 10.3% compared to the same quarter last year. 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. Stockholders of record on Thursday, June 15th will be given a dividend of $0.6185 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.49%. Iron Mountain’s payout ratio is currently 124.75%.

Insider Transactions at Iron Mountain

In other news, Director Walter C. Rakowich sold 1,219 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $55.53, for a total transaction of $67,691.07. Following the transaction, the director now directly owns 33,735 shares of the company’s stock, valued at $1,873,304.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Iron Mountain news, Director Jennifer Allerton sold 4,000 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $55.14, for a total transaction of $220,560.00. Following the completion of the sale, the director now owns 14,397 shares in the company, valued at $793,850.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Walter C. Rakowich sold 1,219 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $55.53, for a total transaction of $67,691.07. Following the transaction, the director now owns 33,735 shares of the company’s stock, valued at approximately $1,873,304.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,771 shares of company stock valued at $5,281,872. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IRM shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 target price on shares of Iron Mountain in a research report on Monday, March 6th. StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, Barclays raised their price objective on shares of Iron Mountain from $56.00 to $64.00 in a research note on Friday, May 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $62.00.

Iron Mountain Company Profile

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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.