Metis Global Partners LLC Decreases Position in Iron Mountain Incorporated (NYSE:IRM)

Metis Global Partners LLC cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,345 shares of the financial services provider’s stock after selling 355 shares during the period. Metis Global Partners LLC’s holdings in Iron Mountain were worth $1,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Williamson Legacy Group LLC purchased a new stake in Iron Mountain during the fourth quarter valued at approximately $613,000. Fisher Asset Management LLC purchased a new stake in shares of Iron Mountain in the fourth quarter worth approximately $587,000. SVB Wealth LLC purchased a new stake in shares of Iron Mountain in the fourth quarter worth approximately $1,143,000. Flputnam Investment Management Co. raised its holdings in shares of Iron Mountain by 5.6% in the fourth quarter. Flputnam Investment Management Co. now owns 12,555 shares of the financial services provider’s stock worth $1,320,000 after buying an additional 669 shares during the period. Finally, Versor Investments LP purchased a new stake in shares of Iron Mountain in the fourth quarter worth approximately $915,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 162,391 shares of company stock worth $16,805,912. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Stock Down 3.2 %

Shares of NYSE:IRM opened at $90.15 on Tuesday. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24. The stock has a market cap of $26.48 billion, a P/E ratio of 147.79, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01. The business’s 50 day moving average is $101.81 and its 200 day moving average is $111.70.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data 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 negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the company earned $0.52 EPS. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a $0.785 dividend. The ex-dividend date is Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.48%. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IRM shares. Wells Fargo & Company reduced their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Barclays reduced their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada increased their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Finally, StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $127.67.

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.