Knights of Columbus Asset Advisors LLC Increases Position in Iron Mountain Incorporated (NYSE:IRM)

Knights of Columbus Asset Advisors LLC increased its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,125 shares of the financial services provider’s stock after purchasing an additional 2,155 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Iron Mountain were worth $9,036,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC purchased a new position in Iron Mountain in the fourth quarter worth $224,698,000. Wellington Management Group LLP raised its stake in Iron Mountain by 315.2% in the third quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock valued at $179,079,000 after buying an additional 2,286,711 shares during the last quarter. Norges Bank acquired a new position in shares of Iron Mountain during the fourth quarter valued at about $97,752,000. Daiwa Securities Group Inc. raised its position in shares of Iron Mountain by 60.9% in 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 last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Iron Mountain by 214.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock worth $103,744,000 after purchasing an additional 1,178,754 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 115,979 shares of Iron Mountain stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $78.90, for a total value of $9,150,743.10. Following the sale, the chief executive officer now directly owns 432,682 shares of the company’s stock, valued at $34,138,609.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Deborah Marson sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $67.43, for a total transaction of $134,860.00. Following the completion of the sale, the executive vice president now owns 48,026 shares of the company’s stock, valued at approximately $3,238,393.18. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 115,979 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $78.90, for a total transaction of $9,150,743.10. Following the completion of the transaction, the chief executive officer now directly owns 432,682 shares in the company, valued at $34,138,609.80. The disclosure for this sale can be found here. In the last three months, insiders sold 164,124 shares of company stock worth $12,698,221. Corporate insiders own 2.20% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM stock traded up $0.41 during trading hours on Friday, hitting $74.83. 385,711 shares of the company’s stock were exchanged, compared to its average volume of 1,421,579. Iron Mountain Incorporated has a fifty-two week low of $52.81 and a fifty-two week high of $82.19. The firm has a market cap of $21.87 billion, a P/E ratio of 118.11, a P/E/G ratio of 4.52 and a beta of 0.94. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78. The firm has a 50 day moving average of $76.43 and a two-hundred day moving average of $68.51.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 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 return on equity of 178.02% and a net margin of 5.44%. Iron Mountain’s revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. Sell-side analysts forecast that Iron Mountain Incorporated will post 4.16 EPS for the current year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.47%. The ex-dividend date was Thursday, March 14th. Iron Mountain’s payout ratio is 412.70%.

Wall Street Analyst Weigh In

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

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.