2,864 Shares in Iron Mountain Incorporated (NYSE:IRM) Acquired by Cynosure Group LLC

Cynosure Group LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,864 shares of the financial services provider’s stock, valued at approximately $301,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Key Financial Inc increased its stake in shares of Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC acquired a new position in Iron Mountain in the 4th quarter worth about $26,000. IMG Wealth Management Inc. acquired a new position in Iron Mountain in the 4th quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. acquired a new stake in shares of Iron Mountain during the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IRM shares. Barclays cut their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. 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. StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Monday. Finally, JPMorgan Chase & Co. cut their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Iron Mountain currently has an average rating of “Moderate Buy” and an average price target of $125.67.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $88.16 on Thursday. The stock’s 50-day moving average is $93.59 and its 200-day moving average is $107.75. The company has a market cap of $25.90 billion, a P/E ratio of 144.52, a P/E/G ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter in the previous year, the company earned $0.52 EPS. As a group, equities analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be paid a dividend of $0.785 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio is presently 514.75%.

Insider Buying and Selling at Iron Mountain

In related news, CAO Daniel Borges sold 6,433 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the sale, the chief accounting officer now owns 288 shares in the company, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 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 value of $161,355.92. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,848 shares of company stock valued at $23,418,519 in the last ninety days. Company insiders own 2.10% of the company’s stock.

Iron Mountain 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.