Iron Mountain Incorporated (NYSE:IRM) Shares Sold by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 9.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,679 shares of the financial services provider’s stock after selling 887 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Iron Mountain were worth $912,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain in the 3rd quarter worth approximately $31,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Iron Mountain in the 3rd quarter valued at $36,000. Dunhill Financial LLC boosted its holdings in Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after buying an additional 152 shares in the last quarter. Oakworth Capital Inc. acquired a new stake in Iron Mountain during the fourth quarter valued at $55,000. Finally, Quarry LP increased 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 buying an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mithu Bhargava sold 8,263 shares of the 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 completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Insiders sold a total of 162,391 shares of company stock worth $16,805,912 in the last three months. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Stock Down 1.4 %

Iron Mountain stock opened at $94.04 on Wednesday. The company has a fifty day simple moving average of $104.71 and a 200-day simple moving average of $112.66. The firm has a market capitalization of $27.60 billion, a price-to-earnings ratio of 261.22, a PEG ratio of 5.84 and a beta of 1.01. Iron Mountain Incorporated has a 52-week low of $67.09 and a 52-week high of $130.24.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 1.77% and a negative return on equity of 44,660.04%. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the prior year, the company posted $0.52 EPS. On average, research analysts anticipate that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.34%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is 794.47%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on IRM shares. Wells Fargo & Company dropped 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. StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Barclays dropped their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $127.67.

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.