Iron Mountain Incorporated (NYSE:IRM) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 148,004 shares of the financial services provider’s stock after selling 1,403 shares during the quarter. QRG Capital Management Inc. owned approximately 0.05% of Iron Mountain worth $15,557,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in IRM. Key Financial Inc boosted its holdings in Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 251 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Iron Mountain in the third quarter valued at approximately $31,000. Teachers Insurance & Annuity Association of America acquired a new position in Iron Mountain in the third quarter valued at approximately $36,000. Dunhill Financial LLC boosted its holdings in Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 152 shares in the last quarter. Finally, Quarry LP boosted its holdings in Iron Mountain by 86.5% in the third quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 230 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IRM. Wells Fargo & Company lowered their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada upped their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Barclays reduced their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Buy” and a consensus target price of $127.67.

Iron Mountain Price Performance

Iron Mountain stock opened at $91.64 on Friday. Iron Mountain Incorporated has a 12 month low of $73.45 and a 12 month high of $130.24. The business has a 50 day simple moving average of $102.35 and a 200-day simple moving average of $111.89. The stock has a market capitalization of $26.92 billion, a PE ratio of 150.23, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last released 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). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the company earned $0.52 EPS. As a group, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is 514.75%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,872 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 162,391 shares of company stock worth $16,805,912 over the last 90 days. 2.10% 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.