Quantbot Technologies LP Purchases 40,935 Shares of Iron Mountain Incorporated (NYSE:IRM)

Quantbot Technologies LP lifted its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 820.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,922 shares of the financial services provider's stock after purchasing an additional 40,935 shares during the period. Quantbot Technologies LP's holdings in Iron Mountain were worth $4,827,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in Iron Mountain by 2.8% in the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider's stock valued at $6,402,000 after purchasing an additional 1,446 shares in the last quarter. Merit Financial Group LLC raised its stake in Iron Mountain by 91.5% during the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider's stock worth $1,570,000 after buying an additional 7,137 shares during the period. Tidal Investments LLC lifted its holdings in Iron Mountain by 254.1% during the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider's stock worth $2,440,000 after acquiring an additional 14,737 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Iron Mountain by 151.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider's stock valued at $961,000 after acquiring an additional 5,511 shares during the period. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Iron Mountain in the third quarter worth about $24,122,000. 80.13% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at Iron Mountain

In other news, CAO Daniel Borges sold 6,433 shares of Iron Mountain 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 $597,239.72. Following the completion of the transaction, the chief accounting officer now directly owns 288 shares in the company, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. Insiders sold a total of 327,242 shares of company stock worth $31,530,305 over the last quarter. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IRM. Royal Bank of Canada lifted their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a report on Wednesday, November 27th. StockNews.com cut shares of Iron Mountain from a "hold" rating to a "sell" rating in a report on Friday, March 14th. Barclays dropped their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. Finally, 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. One analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $127.67.

Iron Mountain Trading Up 1.2 %

Shares of Iron Mountain stock traded up $1.01 during trading hours on Wednesday, reaching $88.63. 1,449,539 shares of the company's stock were exchanged, compared to its average volume of 1,675,844. The company has a 50 day moving average of $97.73 and a two-hundred day moving average of $109.69. The stock has a market cap of $26.04 billion, a P/E ratio of 145.30, a P/E/G ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the company posted $0.52 earnings per share. As a group, analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be given 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 3.54%. The ex-dividend date is Monday, March 17th. Iron Mountain's dividend payout ratio is 514.75%.

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.