Sargent Investment Group LLC Reduces Position in Iron Mountain Incorporated (NYSE:IRM)

Sargent Investment Group LLC lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,357 shares of the financial services provider’s stock after selling 8,368 shares during the quarter. Iron Mountain makes up 2.2% of Sargent Investment Group LLC’s portfolio, making the stock its 13th largest holding. Sargent Investment Group LLC’s holdings in Iron Mountain were worth $10,242,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Deutsche Bank AG raised its position in shares of Iron Mountain by 0.7% during the 3rd quarter. Deutsche Bank AG now owns 4,571,545 shares of the financial services provider’s stock valued at $271,778,000 after purchasing an additional 29,683 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Iron Mountain by 60.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock valued at $285,960,000 after purchasing an additional 1,546,592 shares during the period. Northern Trust Corp increased its holdings in Iron Mountain by 1.2% in the 3rd quarter. Northern Trust Corp now owns 3,913,828 shares of the financial services provider’s stock valued at $232,677,000 after acquiring an additional 47,902 shares during the last quarter. Invesco Ltd. increased its holdings in Iron Mountain by 49.7% in the 3rd quarter. Invesco Ltd. now owns 3,243,435 shares of the financial services provider’s stock valued at $192,822,000 after acquiring an additional 1,077,339 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Iron Mountain by 315.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock valued at $179,079,000 after acquiring an additional 2,286,711 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 0.3 %

Iron Mountain stock traded up $0.26 during trading hours on Friday, hitting $77.52. The company had a trading volume of 817,647 shares, compared to its average volume of 1,003,245. The firm has a market cap of $22.72 billion, a P/E ratio of 123.05, a P/E/G ratio of 4.64 and a beta of 0.94. 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 Incorporated has a 1 year low of $52.81 and a 1 year high of $82.19. The company has a 50-day moving average price of $77.46 and a two-hundred day moving average price of $69.36.

Iron Mountain (NYSE:IRM) last released 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). The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. Iron Mountain’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.18 earnings per share for the current year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were given a $0.65 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.60 annualized dividend and a dividend yield of 3.35%. Iron Mountain’s payout ratio is presently 412.70%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on IRM shares. TheStreet downgraded shares of Iron Mountain from a “b” rating to a “c” rating in a report on Thursday, February 22nd. Barclays boosted their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Wells Fargo & Company boosted their target price on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Finally, Stifel Nicolaus boosted their target price on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.80.

Insider Transactions at Iron Mountain

In other news, CAO Daniel Borges sold 996 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at approximately $247,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Daniel Borges sold 996 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at approximately $247,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah Marson sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total transaction of $134,860.00. Following the transaction, the executive vice president now owns 48,026 shares of the company’s stock, valued at approximately $3,238,393.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,124 shares of company stock valued at $12,698,221. Company insiders own 2.20% of the company’s stock.

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.