QRG Capital Management Inc. Cuts Position in Iron Mountain Incorporated (NYSE:IRM)

QRG Capital Management Inc. decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 0.9% during the 4th quarter, Holdings Channel reports. The firm owned 148,004 shares of the financial services provider’s stock after selling 1,403 shares during the quarter. QRG Capital Management Inc.’s holdings in Iron Mountain were worth $15,557,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of IRM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after purchasing an additional 2,672,821 shares during the last quarter. Mizuho Securities USA LLC boosted its stake in shares of Iron Mountain by 2,193.9% during the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock valued at $61,613,000 after acquiring an additional 495,898 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of Iron Mountain by 10,432.5% during the fourth quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 240,261 shares during the last quarter. KBC Group NV boosted its stake in shares of Iron Mountain by 368.4% during the third quarter. KBC Group NV now owns 305,392 shares of the financial services provider’s stock valued at $36,289,000 after acquiring an additional 240,195 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Iron Mountain during the third quarter valued at $26,429,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 15,872 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 162,391 shares of company stock worth $16,805,912. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Trading Down 1.5 %

Shares of NYSE:IRM opened at $91.64 on Friday. The stock’s 50-day moving average price is $102.35 and its two-hundred day moving average price is $111.89. Iron Mountain Incorporated has a 12-month low of $73.45 and a 12-month high of $130.24. The firm has a market cap of $26.92 billion, a price-to-earnings ratio of 150.23, a PEG ratio of 5.15 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter last year, the business earned $0.52 earnings per share. As a group, research analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of analyst reports. Royal Bank of Canada increased their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Barclays decreased their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. decreased their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Wells Fargo & Company decreased their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Iron Mountain currently has a consensus rating of “Buy” and a consensus price target of $127.67.

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.