Sentry Investment Management LLC Trims Holdings in Iron Mountain Incorporated (NYSE:IRM)

Sentry Investment Management LLC reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 9.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,528 shares of the financial services provider’s stock after selling 164 shares during the quarter. Sentry Investment Management LLC’s holdings in Iron Mountain were worth $107,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp increased its holdings in shares of Iron Mountain by 1.8% during 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 acquiring an additional 261,765 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Iron Mountain by 12.1% in the first quarter. Geode Capital Management LLC now owns 7,781,928 shares of the financial services provider’s stock worth $411,015,000 after buying an additional 837,623 shares in the last quarter. Deutsche Bank AG raised its holdings in Iron Mountain by 10.5% in the 1st quarter. Deutsche Bank AG now owns 4,584,196 shares of the financial services provider’s stock worth $242,550,000 after acquiring an additional 436,842 shares during the last quarter. Moneta Group Investment Advisors LLC bought a new position in Iron Mountain in the 4th quarter valued at approximately $224,698,000. Finally, Northern Trust Corp increased its holdings in shares of Iron Mountain by 1.2% in 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 in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

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

Iron Mountain Trading Up 0.6 %

Shares of IRM opened at $75.15 on Thursday. Iron Mountain Incorporated has a fifty-two week low of $52.05 and a fifty-two week high of $82.19. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78. The company’s fifty day moving average is $76.31 and its 200 day moving average is $68.47. The stock has a market capitalization of $21.96 billion, a PE ratio of 119.29, a P/E/G ratio of 4.49 and a beta of 0.94.

Iron Mountain (NYSE:IRM) last posted its earnings results 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 business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts expect that Iron Mountain Incorporated will post 4.16 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend was Thursday, March 14th. Iron Mountain’s dividend payout ratio (DPR) is 412.70%.

Insider Activity

In related news, EVP Mark Kidd sold 4,458 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $80.21, for a total value of $357,576.18. Following the completion of the sale, the executive vice president now directly owns 62,938 shares in the company, valued at $5,048,256.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Iron Mountain news, CAO Daniel Borges sold 996 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $80.00, for a total value of $79,680.00. Following the transaction, the chief accounting officer now owns 3,095 shares of the company’s stock, valued at approximately $247,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark Kidd sold 4,458 shares of Iron Mountain 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 completion of the sale, the executive vice president now owns 62,938 shares of the company’s stock, valued at $5,048,256.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,124 shares of company stock valued at $12,698,221. 2.20% of the stock is currently owned by insiders.

About Iron Mountain

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.