Whittier Trust Co. Buys 144 Shares of Iron Mountain Incorporated (NYSE:IRM)

Whittier Trust Co. grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,157 shares of the financial services provider’s stock after buying an additional 144 shares during the quarter. Whittier Trust Co.’s holdings in Iron Mountain were worth $332,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Iron Mountain by 36.9% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 157,117 shares of the financial services provider’s stock worth $16,515,000 after buying an additional 42,326 shares during the last quarter. iA Global Asset Management Inc. bought a new stake in shares of Iron Mountain during the fourth quarter worth $1,104,000. Teacher Retirement System of Texas grew its stake in shares of Iron Mountain by 1,736.4% during the fourth quarter. Teacher Retirement System of Texas now owns 36,049 shares of the financial services provider’s stock worth $3,789,000 after buying an additional 34,086 shares during the last quarter. Royal London Asset Management Ltd. grew its stake in shares of Iron Mountain by 5.4% during the fourth quarter. Royal London Asset Management Ltd. now owns 136,826 shares of the financial services provider’s stock worth $14,382,000 after buying an additional 6,981 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Iron Mountain by 5.6% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 77,831 shares of the financial services provider’s stock worth $8,181,000 after purchasing an additional 4,140 shares during the period. Institutional investors own 80.13% of the company’s stock.

Insider Activity

In other news, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the sale, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mithu Bhargava sold 1,738 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 318,979 shares of company stock worth $30,666,904. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Down 0.9 %

IRM stock opened at $87.64 on Monday. The firm has a market cap of $25.74 billion, a price-to-earnings ratio of 143.67, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 12-month low of $73.53 and a 12-month high of $130.24. The company’s fifty day simple moving average is $96.89 and its 200 day simple moving average is $109.17.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. Research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.58%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is currently 514.75%.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of recent research reports. Barclays cut their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday. JPMorgan Chase & Co. cut their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Royal Bank of Canada lifted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company cut their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average 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.