Trust Investment Advisors Acquires 1,860 Shares of Iron Mountain Incorporated (NYSE:IRM)

Trust Investment Advisors boosted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 11.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,163 shares of the financial services provider’s stock after buying an additional 1,860 shares during the quarter. Iron Mountain makes up about 1.2% of Trust Investment Advisors’ investment portfolio, making the stock its 21st largest holding. Trust Investment Advisors’ holdings in Iron Mountain were worth $1,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IRM. IMG Wealth Management Inc. bought a new stake in shares of Iron Mountain during the 4th quarter valued at $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in Iron Mountain during the fourth quarter valued at $26,000. Key Financial Inc grew its holdings in Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 251 shares during the period. Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain in the third quarter worth about $36,000. Finally, Dunhill Financial LLC raised its stake in shares of Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after buying an additional 152 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Down 2.5 %

IRM opened at $87.84 on Wednesday. The company has a market capitalization of $25.80 billion, a PE ratio of 144.00, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. The firm has a 50-day simple moving average of $96.32 and a two-hundred day simple moving average of $108.88. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results 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). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the company posted $0.52 earnings per share. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.57%. The ex-dividend date is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is currently 514.75%.

Insider Activity at Iron Mountain

In other news, EVP Mithu Bhargava sold 1,738 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,211,933.36. This trade represents a 11.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The disclosure for this sale can be found here. Insiders have sold a total of 318,979 shares of company stock valued at $30,666,904 over the last 90 days. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on IRM. Barclays reduced their target price on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Royal Bank of Canada increased their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company lowered their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. cut their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Finally, StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $125.67.

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.