SG Americas Securities LLC Sells 161,665 Shares of Iron Mountain Incorporated (NYSE:IRM)

SG Americas Securities LLC lessened its holdings in Iron Mountain Incorporated (NYSE:IRM) by 84.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,853 shares of the financial services provider’s stock after selling 161,665 shares during the period. SG Americas Securities LLC’s holdings in Iron Mountain were worth $2,159,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of IRM. Cohen & Steers Inc. increased its position in Iron Mountain by 163.9% during the 2nd quarter. Cohen & Steers Inc. now owns 7,725,767 shares of the financial services provider’s stock worth $438,926,000 after purchasing an additional 4,798,010 shares in the last quarter. Moneta Group Investment Advisors LLC acquired a new position in shares of Iron Mountain during the fourth quarter worth $224,698,000. Wellington Management Group LLP lifted its stake in shares of Iron Mountain by 315.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock valued at $179,079,000 after acquiring an additional 2,286,711 shares during the last quarter. Norges Bank acquired a new stake in shares of Iron Mountain during the 4th quarter valued at $97,752,000. Finally, Ameriprise Financial Inc. grew its position in Iron Mountain by 214.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock worth $103,744,000 after acquiring an additional 1,178,754 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In related news, EVP Mark Kidd sold 11,376 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $69.90, for a total transaction of $795,182.40. Following the completion of the sale, the executive vice president now owns 42,739 shares of the company’s stock, valued at $2,987,456.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Iron Mountain news, Director Robin Matlock sold 941 shares of Iron Mountain stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $69.28, for a total value of $65,192.48. Following the completion of the sale, the director now directly owns 21,957 shares of the company’s stock, valued at $1,521,180.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mark Kidd sold 11,376 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $69.90, for a total transaction of $795,182.40. Following the transaction, the executive vice president now owns 42,739 shares in the company, valued at approximately $2,987,456.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 171,983 shares of company stock valued at $13,030,171. Corporate insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on IRM. 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 report on Tuesday, January 23rd. TheStreet lowered shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Wells Fargo & Company boosted their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Finally, Barclays raised their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and an average price target of $73.80.

Iron Mountain Stock Performance

Shares of IRM stock opened at $80.14 on Thursday. The stock has a market capitalization of $23.42 billion, a PE ratio of 127.21, a PEG ratio of 4.70 and a beta of 0.94. The business’s 50 day simple moving average is $73.34 and its 200 day simple moving average is $66.81. The company has a debt-to-equity ratio of 55.78, a current ratio of 0.78 and a quick ratio of 0.78. Iron Mountain Incorporated has a one year low of $49.61 and a one year high of $82.19.

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

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $2.60 dividend on an annualized basis and a yield of 3.24%. Iron Mountain’s payout ratio is currently 412.70%.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management, innovative storage, data center infrastructure, and asset lifecycle management. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work.