Checchi Capital Advisers LLC Decreases Position in Iron Mountain Incorporated (NYSE:IRM)

Checchi Capital Advisers LLC decreased its stake in Iron Mountain Incorporated (NYSE:IRM) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,034 shares of the financial services provider’s stock after selling 310 shares during the period. Checchi Capital Advisers LLC’s holdings in Iron Mountain were worth $844,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Key Financial Inc boosted its position 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 worth $26,000 after buying an additional 251 shares during the period. Ashton Thomas Securities LLC purchased a new position in Iron Mountain in the third quarter valued at about $31,000. Teachers Insurance & Annuity Association of America purchased a new position in Iron Mountain in the third quarter valued at about $36,000. Dunhill Financial LLC boosted its holdings in Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 152 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Iron Mountain by 104.8% in the fourth quarter. Venturi Wealth Management LLC now owns 514 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 263 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In other 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 transaction of $863,400.87. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,131 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 162,391 shares of company stock worth $16,805,912. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Stock Up 0.7 %

Shares of NYSE IRM opened at $93.04 on Thursday. The stock’s 50 day moving average price is $102.55 and its two-hundred day moving average price is $112.03. Iron Mountain Incorporated has a 52-week low of $73.45 and a 52-week high of $130.24. The stock has a market capitalization of $27.33 billion, a P/E ratio of 152.52, a PEG ratio of 5.15 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The company had revenue of $1.58 billion for the quarter, compared to analyst estimates 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 in the previous year, the company posted $0.52 earnings per share. On average, analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently declared 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. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.37%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio is presently 514.75%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on IRM. Royal Bank of Canada increased their price target 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. Wells Fargo & Company reduced 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. Barclays reduced their price target 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, StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $127.67.

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.