Russell Investments Group Ltd. Boosts Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Russell Investments Group Ltd. increased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 59.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,081,786 shares of the financial services provider’s stock after acquiring an additional 772,988 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.71% of Iron Mountain worth $145,879,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. CWM LLC increased its position in shares of Iron Mountain by 22.4% in the third quarter. CWM LLC now owns 5,862 shares of the financial services provider’s stock valued at $348,000 after buying an additional 1,071 shares in the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of Iron Mountain by 4.6% in the 3rd quarter. Koshinski Asset Management Inc. now owns 4,293 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 188 shares during the last quarter. CX Institutional acquired a new position in Iron Mountain during the 3rd quarter worth $282,000. Oak Thistle LLC bought a new stake in shares of Iron Mountain in the 3rd quarter worth $563,000. Finally, Czech National Bank raised its position in Iron Mountain by 47.8% during the third quarter. Czech National Bank now owns 51,009 shares of the financial services provider’s stock valued at $3,032,000 after buying an additional 16,487 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IRM. Barclays raised their price objective on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. TheStreet lowered Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Stifel Nicolaus boosted their target price on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Finally, Wells Fargo & Company upped their price objective on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and an average price target of $73.80.

Insider Transactions at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $76.68, for a total value of $1,217,295.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $22,670,442. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $76.68, for a total value of $1,217,295.00. Following the completion of the transaction, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $22,670,442. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Daniel Borges sold 996 shares of Iron Mountain stock in a transaction on Monday, March 4th. The shares were sold at an average price of $80.00, for a total value of $79,680.00. Following the transaction, the chief accounting officer now directly owns 3,095 shares of the company’s stock, valued at $247,600. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,124 shares of company stock valued at $12,698,221. 2.20% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Performance

Shares of NYSE IRM traded up $0.26 during midday trading on Friday, hitting $77.52. 817,647 shares of the stock traded hands, compared to its average volume of 1,003,245. The firm has a 50-day moving average of $77.46 and a two-hundred day moving average of $69.29. The firm has a market capitalization of $22.72 billion, a P/E ratio of 123.05, a PEG ratio of 4.62 and a beta of 0.94. Iron Mountain Incorporated has a one year low of $52.81 and a one year high of $82.19. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the firm earned $0.98 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities analysts forecast that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a dividend of $0.65 per share. The ex-dividend date was Thursday, March 14th. This represents a $2.60 dividend on an annualized basis and a yield of 3.35%. Iron Mountain’s payout ratio is currently 412.70%.

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.