Stock Yards Bank & Trust Co. Lowers Holdings in Iron Mountain Incorporated (NYSE:IRM)

Stock Yards Bank & Trust Co. trimmed its holdings in Iron Mountain Incorporated (NYSE:IRM) by 11.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,575 shares of the financial services provider’s stock after selling 3,295 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Iron Mountain were worth $1,860,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Global Retirement Partners LLC boosted its position in shares of Iron Mountain by 1.7% during the fourth quarter. Global Retirement Partners LLC now owns 9,216 shares of the financial services provider’s stock worth $612,000 after acquiring an additional 156 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of Iron Mountain by 17.1% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,171 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 171 shares in the last quarter. J.W. Cole Advisors Inc. grew its position in shares of Iron Mountain by 2.8% during the third quarter. J.W. Cole Advisors Inc. now owns 6,429 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 177 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Iron Mountain by 4.0% in the fourth quarter. Federated Hermes Inc. now owns 4,599 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 179 shares during the last quarter. Finally, Koshinski Asset Management Inc. lifted its position in shares of Iron Mountain by 4.6% in the third quarter. Koshinski Asset Management Inc. now owns 4,293 shares of the financial services provider’s stock worth $255,000 after buying an additional 188 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Mark Kidd sold 4,458 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $80.21, for a total transaction of $357,576.18. Following the completion of the sale, the executive vice president now directly owns 62,938 shares of the company’s stock, valued at approximately $5,048,256.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Mark Kidd sold 4,458 shares of Iron Mountain stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $80.21, for a total value of $357,576.18. Following the transaction, the executive vice president now owns 62,938 shares of the company’s stock, valued at approximately $5,048,256.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $76.68, for a total value of $1,217,295.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $22,670,442. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,124 shares of company stock valued at $12,698,221. 2.20% of the stock is currently owned by insiders.

Iron Mountain Stock Performance

NYSE:IRM opened at $75.85 on Tuesday. The firm has a market capitalization of $22.17 billion, a PE ratio of 120.40, a PEG ratio of 4.51 and a beta of 0.94. The stock’s fifty day moving average is $76.70 and its 200 day moving average is $68.91. Iron Mountain Incorporated has a fifty-two week low of $52.81 and a fifty-two week high of $82.19. The company has a debt-to-equity ratio of 55.78, a quick ratio of 0.78 and a current ratio of 0.78.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 22nd. The financial services provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.48). Iron Mountain had a net margin of 5.44% and a return on equity of 178.02%. The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the company posted $0.98 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.16 earnings per share for the current year.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.60 annualized dividend and a dividend yield of 3.43%. Iron Mountain’s dividend payout ratio (DPR) is presently 412.70%.

Wall Street Analysts Forecast Growth

IRM has been the topic of a number of research reports. Wells Fargo & Company lifted their price objective on Iron Mountain from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Stifel Nicolaus boosted their price target on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. TheStreet lowered shares of Iron Mountain from a “b” rating to a “c” rating in a research report on Thursday, February 22nd. Finally, Barclays boosted their target price on shares of Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.80.

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.