Alberta Investment Management Corp Has $2.57 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Alberta Investment Management Corp reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 36.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,400 shares of the financial services provider’s stock after selling 13,800 shares during the period. Alberta Investment Management Corp’s holdings in Iron Mountain were worth $2,565,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in shares of Iron Mountain by 142.4% in the third quarter. Blue Trust Inc. now owns 2,138 shares of the financial services provider’s stock valued at $254,000 after acquiring an additional 1,256 shares during the period. Signaturefd LLC raised its stake in Iron Mountain by 12.7% in the 3rd quarter. Signaturefd LLC now owns 6,026 shares of the financial services provider’s stock worth $716,000 after purchasing an additional 677 shares in the last quarter. Eastern Bank bought a new stake in Iron Mountain in the 3rd quarter valued at about $87,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Iron Mountain during the 3rd quarter worth approximately $232,000. Finally, Greenleaf Trust increased its holdings in shares of Iron Mountain by 3.2% during the third quarter. Greenleaf Trust now owns 7,386 shares of the financial services provider’s stock worth $878,000 after purchasing an additional 230 shares during the period. 80.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,872 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 162,391 shares of company stock worth $16,805,912 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

Iron Mountain stock opened at $93.39 on Friday. Iron Mountain Incorporated has a 52 week low of $67.89 and a 52 week high of $130.24. The stock has a market capitalization of $27.43 billion, a P/E ratio of 153.10, a price-to-earnings-growth ratio of 5.19 and a beta of 1.01. The stock has a fifty day moving average of $103.91 and a 200-day moving average of $112.39.

Iron Mountain (NYSE:IRM) last issued its 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). The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period in the previous year, the firm posted $0.52 EPS. On average, research analysts forecast 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. Investors of record on Monday, March 17th will be paid a $0.785 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.36%. Iron Mountain’s dividend payout ratio is presently 468.85%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on IRM shares. JPMorgan Chase & Co. cut their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Royal Bank of Canada raised their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company dropped their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, Barclays reduced their price objective on shares of 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 sell rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.