Fiduciary Group LLC Has $736,000 Holdings in Iron Mountain Incorporated (NYSE:IRM)

Fiduciary Group LLC lessened its position in Iron Mountain Incorporated (NYSE:IRM) by 3.4% in the fourth quarter, HoldingsChannel reports. The fund owned 7,000 shares of the financial services provider’s stock after selling 250 shares during the quarter. Fiduciary Group LLC’s holdings in Iron Mountain were worth $736,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in Iron Mountain by 2.8% in the third quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after acquiring an additional 1,446 shares during the period. Merit Financial Group LLC grew its stake in Iron Mountain by 91.5% in the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after acquiring an additional 7,137 shares during the period. Tidal Investments LLC grew its stake in Iron Mountain by 254.1% in the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after acquiring an additional 14,737 shares during the period. Exchange Traded Concepts LLC grew its stake in Iron Mountain by 151.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock valued at $961,000 after acquiring an additional 5,511 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new stake in Iron Mountain in the third quarter valued at approximately $24,122,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Wells Fargo & Company cut their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Barclays cut their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. cut their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada lifted their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $125.67.

Iron Mountain Trading Down 0.3 %

Shares of Iron Mountain stock opened at $88.36 on Friday. The business’s fifty day simple moving average is $97.16 and its 200 day simple moving average is $109.40. The firm has a market capitalization of $25.95 billion, a P/E ratio of 144.84, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly 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). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter last year, the business posted $0.52 earnings per share. Analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the business’s 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 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, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the sale, the chief accounting officer now owns 288 shares in the company, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 327,242 shares of company stock worth $31,530,305 over the last ninety days. 2.10% of the stock is currently owned by company insiders.

Iron Mountain 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.