Nisa Investment Advisors LLC Decreases Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Nisa Investment Advisors LLC decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 8.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 140,016 shares of the financial services provider's stock after selling 12,853 shares during the period. Nisa Investment Advisors LLC's holdings in Iron Mountain were worth $9,798,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of IRM. State Street Corp increased its holdings in shares of Iron Mountain by 1.8% in the first quarter. State Street Corp now owns 14,622,009 shares of the financial services provider's stock valued at $819,026,000 after purchasing an additional 261,765 shares during the period. Geode Capital Management LLC lifted its stake in Iron Mountain by 12.1% during the 1st quarter. Geode Capital Management LLC now owns 7,781,928 shares of the financial services provider's stock valued at $411,015,000 after acquiring an additional 837,623 shares during the period. Deutsche Bank AG lifted its position in Iron Mountain by 10.5% during the first quarter. Deutsche Bank AG now owns 4,584,196 shares of the financial services provider's stock valued at $242,550,000 after purchasing an additional 436,842 shares during the period. Moneta Group Investment Advisors LLC purchased a new stake in Iron Mountain in the fourth quarter valued at $224,698,000. Finally, Northern Trust Corp grew its position in Iron Mountain by 1.2% during the 3rd quarter. Northern Trust Corp now owns 3,913,828 shares of the financial services provider's stock worth $232,677,000 after purchasing an additional 47,902 shares during the period. Institutional investors and hedge funds own 80.13% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IRM shares. TheStreet downgraded Iron Mountain from a "b" rating to a "c" rating in a research note on Thursday, February 22nd. Barclays raised their price objective on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 5th. Stifel Nicolaus lifted their target price on shares of Iron Mountain from $65.00 to $76.00 and gave the company a "buy" rating in a report on Tuesday, January 23rd. Finally, Wells Fargo & Company increased their price target on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $73.80.

Iron Mountain Price Performance

Shares of IRM stock traded down $3.51 during trading hours on Wednesday, hitting $75.69. 1,901,205 shares of the company's stock were exchanged, compared to its average volume of 1,466,754. The firm has a 50 day moving average of $75.64 and a two-hundred day moving average of $67.92. Iron Mountain Incorporated has a fifty-two week low of $52.05 and a fifty-two week high of $82.19. The firm has a market cap of $22.12 billion, a P/E ratio of 120.14, a P/E/G ratio of 4.73 and a beta of 0.94. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 55.78.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing analysts' consensus estimates of $1.00 by ($0.48). Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. The business's revenue was up 11.0% on a year-over-year basis. Sell-side analysts forecast that Iron Mountain Incorporated will post 4.16 EPS for the current year.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain's payout ratio is 412.70%.

Insider Buying and Selling at Iron Mountain

In other news, EVP Deborah Marson sold 2,000 shares of Iron Mountain stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $67.43, for a total value of $134,860.00. Following the sale, the executive vice president now directly owns 48,026 shares of the company's stock, valued at $3,238,393.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Mark Kidd sold 4,458 shares of the business's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $80.21, for a total transaction of $357,576.18. Following the transaction, the executive vice president now directly owns 62,938 shares in the company, valued at approximately $5,048,256.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Deborah Marson sold 2,000 shares of the company's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $67.43, for a total transaction of $134,860.00. Following the completion of the sale, the executive vice president now directly owns 48,026 shares of the company's stock, valued at approximately $3,238,393.18. The disclosure for this sale can be found here. Insiders sold 148,249 shares of company stock valued at $11,480,926 over the last quarter. 2.20% of the stock is currently owned by insiders.

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.