World Investment Advisors Has $897,000 Position in Iron Mountain Incorporated (NYSE:IRM)

World Investment Advisors raised its position in Iron Mountain Incorporated (NYSE:IRM) by 83.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,534 shares of the financial services provider’s stock after purchasing an additional 3,870 shares during the period. World Investment Advisors’ holdings in Iron Mountain were worth $897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Merit Financial Group LLC boosted its position in shares of Iron Mountain by 91.5% in the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after acquiring an additional 7,137 shares during the period. Tidal Investments LLC boosted its holdings in Iron Mountain by 254.1% in the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after purchasing an additional 14,737 shares during the period. Exchange Traded Concepts LLC grew its position in shares of Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 5,511 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Iron Mountain during the third quarter worth approximately $24,122,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Iron Mountain in the fourth quarter valued at approximately $102,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Mithu Bhargava sold 1,738 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total value of $5,952,353.75. The disclosure for this sale can be found here. Insiders sold a total of 318,973 shares of company stock valued at $29,370,872 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Trading Down 7.0 %

Shares of NYSE IRM opened at $77.31 on Monday. The company has a market cap of $22.71 billion, a price-to-earnings ratio of 126.74, a PEG ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24. The stock has a 50-day moving average price of $92.35 and a two-hundred day moving average price of $107.17.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. On average, sell-side analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were given a dividend of $0.785 per share. The ex-dividend date was Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 4.06%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is currently 514.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on IRM shares. JPMorgan Chase & Co. reduced their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday, March 31st. Wells Fargo & Company cut their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, Barclays decreased their target price on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus target price of $125.67.

About Iron Mountain

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.