National Pension Service Lowers Position in Iron Mountain Incorporated (NYSE:IRM)

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

A number of other institutional investors have also recently bought and sold shares of IRM. OneDigital Investment Advisors LLC increased its position in shares of Iron Mountain by 1.5% during the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock worth $711,000 after acquiring an additional 89 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Iron Mountain by 0.8% during the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after acquiring an additional 92 shares during the last quarter. Geller Advisors LLC increased its position in shares of Iron Mountain by 2.9% during the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock worth $403,000 after acquiring an additional 96 shares during the last quarter. Claro Advisors LLC increased its position in shares of Iron Mountain by 0.6% during the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after acquiring an additional 103 shares during the last quarter. Finally, Premier Path Wealth Partners LLC increased its holdings in Iron Mountain by 3.9% in the fourth quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock valued at $299,000 after buying an additional 106 shares during the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Up 1.6 %

Shares of IRM stock opened at $93.15 on Friday. The business has a 50 day moving average of $102.11 and a two-hundred day moving average of $111.78. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24. The company has a market cap of $27.36 billion, a P/E ratio of 152.70, a PEG ratio of 5.15 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.37%. Iron Mountain’s payout ratio is currently 514.75%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on IRM shares. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday. Royal Bank of Canada boosted their price objective on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Barclays lowered their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lowered their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $127.67.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 15,872 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total transaction of $1,793,377.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 162,391 shares of company stock worth $16,805,912. Company insiders own 2.10% of the company’s stock.

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.