Iron Mountain Incorporated (NYSE:IRM) Shares Sold by National Pension Service

National Pension Service lowered its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 12.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 402,813 shares of the financial services provider’s stock after selling 56,665 shares during the period. National Pension Service owned 0.14% of Iron Mountain worth $42,340,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of IRM. Assenagon Asset Management S.A. boosted its stake in Iron Mountain by 0.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after purchasing an additional 92 shares during the period. TPG Advisors LLC acquired a new stake in Iron Mountain during the 3rd quarter worth $232,000. Affinity Investment Advisors LLC acquired a new stake in Iron Mountain during the 3rd quarter worth $239,000. Farther Finance Advisors LLC boosted its stake in Iron Mountain by 367.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 9,707 shares of the financial services provider’s stock worth $1,153,000 after purchasing an additional 7,632 shares during the period. Finally, Tower Wealth Partners Inc. acquired a new stake in Iron Mountain during the 3rd quarter worth $226,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on IRM shares. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. reduced 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 note on Tuesday, February 18th. Royal Bank of Canada raised their price objective 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. Finally, Wells Fargo & Company reduced 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 note on Tuesday, February 4th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Iron Mountain presently has an average rating of “Buy” and an average price target of $127.67.

Insider Buying and Selling at Iron Mountain

In other news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain 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 completion of the sale, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. In the last three months, insiders sold 162,391 shares of company stock worth $16,805,912. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Trading Up 1.6 %

NYSE:IRM opened at $93.15 on Friday. The firm has a 50-day moving average price of $102.11 and a two-hundred day moving average price of $111.78. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24. The company has a market capitalization of $27.36 billion, a P/E ratio of 152.70, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the business posted $0.52 earnings per share. On average, equities research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

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.