Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Ieq Capital LLC

Ieq Capital LLC lessened its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 8.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,960 shares of the financial services provider’s stock after selling 1,619 shares during the quarter. Ieq Capital LLC’s holdings in Iron Mountain were worth $1,783,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Key Financial Inc lifted its holdings in shares of 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 shares of Iron Mountain during the 3rd quarter worth approximately $31,000. Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain in the 3rd quarter valued at approximately $36,000. Dunhill Financial LLC lifted its stake in Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after buying an additional 152 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Iron Mountain by 104.8% during the 4th quarter. Venturi Wealth Management LLC now owns 514 shares of the financial services provider’s stock valued at $54,000 after buying an additional 263 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Trading Down 1.9 %

Shares of Iron Mountain stock opened at $91.77 on Monday. The stock has a market capitalization of $26.96 billion, a price-to-earnings ratio of 150.44, a PEG ratio of 5.15 and a beta of 1.01. Iron Mountain Incorporated has a twelve month low of $70.00 and a twelve month high of $130.24. The business’s 50 day simple moving average is $103.50 and its 200-day simple moving average is $112.39.

Iron Mountain (NYSE:IRM) last posted its 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 firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the company posted $0.52 EPS. Sell-side analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is currently 468.85%.

Analyst Upgrades and Downgrades

IRM has been the subject of several analyst reports. Barclays reduced their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. Royal Bank of Canada lifted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company cut 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. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.67.

Insider Buying and Selling

In other news, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was 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 of the company’s stock, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 value of $1,793,377.28. The disclosure for this sale can be found here. Insiders have sold a total of 162,391 shares of company stock valued at $16,805,912 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

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.