Terra Nova Asset Management LLC Purchases 7,505 Shares of Iron Mountain Incorporated (NYSE:IRM)

Terra Nova Asset Management LLC lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 35.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,589 shares of the financial services provider’s stock after purchasing an additional 7,505 shares during the period. Iron Mountain comprises 1.8% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 22nd largest holding. Terra Nova Asset Management LLC’s holdings in Iron Mountain were worth $2,001,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbor Investment Advisory LLC grew its holdings in shares of Iron Mountain by 92.2% during the third quarter. Harbor Investment Advisory LLC now owns 417 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 200 shares during the last quarter. Manchester Capital Management LLC lifted its stake in shares of Iron Mountain by 6,983.3% in the third quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 419 shares during the period. First Capital Advisors Group LLC. acquired a new position in shares of Iron Mountain in the second quarter worth approximately $25,000. Exchange Traded Concepts LLC acquired a new position in Iron Mountain in the fourth quarter valued at approximately $26,000. Finally, Compass Wealth Management LLC acquired a new position in Iron Mountain in the fourth quarter valued at approximately $26,000. 80.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Iron Mountain news, Director Robin Matlock sold 941 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $69.28, for a total value of $65,192.48. Following the sale, the director now owns 21,957 shares of the company’s stock, valued at approximately $1,521,180.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Deborah Marson sold 2,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $78.70, for a total transaction of $157,400.00. Following the transaction, the executive vice president now directly owns 67,286 shares in the company, valued at approximately $5,295,408.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robin Matlock sold 941 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $69.28, for a total value of $65,192.48. Following the transaction, the director now owns 21,957 shares in the company, valued at $1,521,180.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 171,983 shares of company stock valued at $13,030,171. Corporate insiders own 2.20% of the company’s stock.

Iron Mountain Trading Up 0.1 %

Shares of Iron Mountain stock opened at $80.21 on Friday. The stock has a fifty day simple moving average of $73.63 and a 200 day simple moving average of $66.90. Iron Mountain Incorporated has a 12-month low of $50.49 and a 12-month high of $82.19. The company has a market capitalization of $23.44 billion, a P/E ratio of 127.32, a price-to-earnings-growth ratio of 4.82 and a beta of 0.94. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. 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 company earned $0.98 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.16 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Friday, March 15th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $2.60 dividend on an annualized basis and a yield of 3.24%. Iron Mountain’s dividend payout ratio (DPR) is 412.70%.

Analyst Upgrades and Downgrades

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

Iron Mountain Company Profile

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management, innovative storage, data center infrastructure, and asset lifecycle management. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work.