Proficio Capital Partners LLC Acquires New Position in Iron Mountain Incorporated (NYSE:IRM)

Proficio Capital Partners LLC purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 101,781 shares of the financial services provider's stock, valued at approximately $102,000.

A number of other large investors also recently made changes to their positions in the business. New York Life Investment Management LLC raised its stake in Iron Mountain by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 43,791 shares of the financial services provider's stock worth $4,603,000 after purchasing an additional 195 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of Iron Mountain by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider's stock worth $2,644,000 after buying an additional 100 shares during the last quarter. Denali Advisors LLC raised its position in shares of Iron Mountain by 1.3% in the 4th quarter. Denali Advisors LLC now owns 14,699 shares of the financial services provider's stock worth $1,545,000 after buying an additional 194 shares during the period. IFP Advisors Inc boosted its holdings in Iron Mountain by 23.8% in the fourth quarter. IFP Advisors Inc now owns 4,413 shares of the financial services provider's stock valued at $464,000 after acquiring an additional 848 shares during the last quarter. Finally, Colonial River Investments LLC grew its position in Iron Mountain by 55.4% during the fourth quarter. Colonial River Investments LLC now owns 14,018 shares of the financial services provider's stock valued at $1,473,000 after acquiring an additional 4,997 shares during the period. Hedge funds and other institutional investors own 80.13% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have recently commented on IRM. Barclays cut their price objective on Iron Mountain from $131.00 to $130.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada raised their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a report on Wednesday, November 27th. StockNews.com downgraded shares of Iron Mountain from a "hold" rating to a "sell" rating in a research note on Friday. Wells Fargo & Company dropped their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $127.67.

Iron Mountain Price Performance

IRM traded up $3.29 during trading hours on Monday, reaching $89.13. 2,581,000 shares of the stock traded hands, compared to its average volume of 1,674,827. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The company has a market cap of $26.18 billion, a price-to-earnings ratio of 146.11, a PEG ratio of 5.15 and a beta of 1.04. The firm's fifty day simple moving average is $98.28 and its two-hundred day simple moving average is $110.03.

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

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain's dividend payout ratio (DPR) is currently 514.75%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the transaction, the executive vice president now owns 13,054 shares of the company's stock, valued at $1,211,933.36. This trade represents a 11.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 172,552 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the sale, the chief executive officer now owns 237,402 shares of the company's stock, valued at $21,681,924.66. This trade represents a 42.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 327,242 shares of company stock valued at $31,530,305. Insiders own 2.10% of the company's stock.

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.