Quantbot Technologies LP Grows Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Quantbot Technologies LP increased its position in Iron Mountain Incorporated (NYSE:IRM) by 820.8% in the fourth quarter, Holdings Channel.com reports. 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 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Iron Mountain by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock worth $978,479,000 after purchasing an additional 128,622 shares during the period. Wealthfront Advisers LLC grew its position in Iron Mountain by 9,843.3% in the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock worth $721,562,000 after purchasing an additional 6,795,792 shares during the period. Charles Schwab Investment Management Inc. grew its position in Iron Mountain by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider’s stock worth $365,656,000 after purchasing an additional 92,475 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Iron Mountain by 537.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock worth $376,756,000 after purchasing an additional 2,672,821 shares during the period. Finally, Captrust Financial Advisors grew its position in Iron Mountain by 5.2% in the 3rd quarter. Captrust Financial Advisors now owns 951,552 shares of the financial services provider’s stock worth $113,073,000 after purchasing an additional 47,327 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the transaction, the chief accounting officer now owns 288 shares in the company, valued at $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 327,242 shares of company stock worth $31,530,305. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Up 1.9 %

Shares of IRM stock opened at $86.68 on Friday. The stock has a market cap of $25.46 billion, a P/E ratio of 142.09, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24. The company’s fifty day simple moving average is $98.28 and its two-hundred day simple moving average is $110.08.

Iron Mountain (NYSE:IRM) last announced 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). The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm earned $0.52 EPS. On average, analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.62%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio is currently 514.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Friday. JPMorgan Chase & Co. cut their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Wells Fargo & Company cut their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Barclays lowered their target price 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. Finally, Royal Bank of Canada lifted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain has a consensus rating of “Moderate Buy” and an average target price of $127.67.

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.