Corrado Advisors LLC Has $1.75 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Corrado Advisors LLC decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 15.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 24,975 shares of the financial services provider’s stock after selling 4,604 shares during the period. Corrado Advisors LLC’s holdings in Iron Mountain were worth $1,748,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in Iron Mountain by 315.2% in the 3rd quarter. Wellington Management Group LLP now owns 3,012,260 shares of the financial services provider’s stock worth $179,079,000 after buying an additional 2,286,711 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Iron Mountain by 60.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,086,316 shares of the financial services provider’s stock worth $285,960,000 after buying an additional 1,546,592 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Iron Mountain by 214.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,727,813 shares of the financial services provider’s stock worth $103,744,000 after buying an additional 1,178,754 shares in the last quarter. Invesco Ltd. lifted its position in Iron Mountain by 49.7% in the 3rd quarter. Invesco Ltd. now owns 3,243,435 shares of the financial services provider’s stock worth $192,822,000 after buying an additional 1,077,339 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Iron Mountain in the 3rd quarter worth approximately $38,430,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Performance

IRM traded up $0.75 during trading on Tuesday, hitting $76.60. The stock had a trading volume of 774,675 shares, compared to its average volume of 1,416,293. The firm has a market cap of $22.39 billion, a PE ratio of 121.59, a P/E/G ratio of 4.51 and a beta of 0.94. Iron Mountain Incorporated has a 12 month low of $52.81 and a 12 month high of $82.19. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 55.78. The company has a 50 day simple moving average of $76.89 and a 200-day simple moving average of $69.04.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.48). The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.45 billion. Iron Mountain had a return on equity of 178.02% and a net margin of 5.44%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 EPS. Analysts expect that Iron Mountain Incorporated will post 4.16 EPS for the current year.

Iron Mountain Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were issued a $0.65 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.60 annualized dividend and a yield of 3.39%. Iron Mountain’s dividend payout ratio (DPR) is presently 412.70%.

Insider Buying and Selling

In other Iron Mountain news, EVP Deborah Marson sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were 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 in the company, valued at approximately $3,238,393.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Deborah Marson sold 2,000 shares of Iron Mountain 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 sale, the executive vice president now directly owns 48,026 shares in the company, valued at approximately $3,238,393.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $1,083,310.00. Following the sale, the chief executive officer now owns 295,650 shares in the company, valued at $20,175,156. The disclosure for this sale can be found here. Insiders have sold 164,124 shares of company stock worth $12,698,221 in the last quarter. 2.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

IRM has been the subject of a number of research analyst reports. TheStreet downgraded shares of Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Stifel Nicolaus raised their price target 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. Barclays raised their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Finally, Wells Fargo & Company raised their price target on shares of Iron Mountain from $80.00 to $90.00 and gave the company 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. Based on data from MarketBeat, the stock currently has a consensus 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 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.