Metis Global Partners LLC Reduces Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Metis Global Partners LLC trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 2.6% during the 4th quarter, Holdings Channel reports. The institutional investor 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 SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Williamson Legacy Group LLC purchased a new position in Iron Mountain during the 4th quarter worth $613,000. Fisher Asset Management LLC purchased a new stake in Iron Mountain during the 4th quarter valued at about $587,000. SVB Wealth LLC purchased a new stake in Iron Mountain during the 4th quarter valued at about $1,143,000. Flputnam Investment Management Co. grew its stake in Iron Mountain by 5.6% during the 4th quarter. Flputnam Investment Management Co. now owns 12,555 shares of the financial services provider’s stock valued at $1,320,000 after purchasing an additional 669 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in Iron Mountain during the 4th quarter valued at about $915,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $99.83, for a total value of $6,900,748.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was 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 directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 162,391 shares of company stock valued at $16,805,912. 2.10% of the stock is owned by company insiders.

Iron Mountain Stock Down 3.2 %

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

Iron Mountain (NYSE:IRM) last issued 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). The company had revenue of $1.58 billion during the quarter, compared to analyst estimates 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 period last year, the firm earned $0.52 EPS. Sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

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

Analysts Set New Price Targets

IRM has been the topic of several research analyst reports. Wells Fargo & Company dropped their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Royal Bank of Canada boosted their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. dropped their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Finally, Barclays dropped their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $127.67.

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.