Concurrent Investment Advisors LLC Grows Stake in Iron Mountain Incorporated (NYSE:IRM)

Concurrent Investment Advisors LLC grew its holdings in Iron Mountain Incorporated (NYSE:IRM) by 3.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 6,393 shares of the financial services provider’s stock after buying an additional 218 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Iron Mountain were worth $672,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of IRM. Key Financial Inc raised its position in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 251 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Iron Mountain in the 3rd quarter worth approximately $31,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Iron Mountain in the 3rd quarter worth approximately $36,000. Dunhill Financial LLC raised its position in shares of Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 152 shares in the last quarter. Finally, Quarry LP raised its position in shares of Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after acquiring an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Barclays decreased their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Royal Bank of Canada raised their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Finally, StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $127.67.

Insiders Place Their Bets

In other news, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was 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. In the last quarter, insiders sold 162,391 shares of company stock valued at $16,805,912. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Trading Down 1.9 %

Iron Mountain stock opened at $91.77 on Monday. The firm has a market cap of $26.96 billion, a price-to-earnings ratio of 150.44, a PEG ratio of 5.15 and a beta of 1.01. The stock has a fifty day simple moving average of $103.50 and a two-hundred day simple moving average of $112.39. Iron Mountain Incorporated has a 12 month low of $70.00 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM) last posted its 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). The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the business posted $0.52 EPS. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a $0.785 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.42%. Iron Mountain’s dividend payout ratio (DPR) is presently 468.85%.

Iron Mountain 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.