Independent Advisor Alliance Sells 539 Shares of Iron Mountain Incorporated (NYSE:IRM)

Independent Advisor Alliance decreased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,310 shares of the financial services provider’s stock after selling 539 shares during the quarter. Independent Advisor Alliance’s holdings in Iron Mountain were worth $4,132,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. OneDigital Investment Advisors LLC grew its holdings in Iron Mountain by 1.5% during the 3rd 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 in the last quarter. Geller Advisors LLC boosted its stake 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 valued at $403,000 after purchasing an additional 96 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Iron Mountain by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock valued at $2,644,000 after purchasing an additional 100 shares in the last quarter. Claro Advisors LLC increased its holdings in Iron Mountain by 0.6% during the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock valued at $1,986,000 after buying an additional 103 shares during the period. Finally, Premier Path Wealth Partners LLC raised its stake 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 worth $299,000 after buying an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on IRM shares. Royal Bank of Canada increased 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. Barclays cut their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company reduced their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Finally, StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. One research analyst has rated the stock with a hold 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 presently has a consensus rating of “Buy” and an average price target of $127.67.

Insider Buying and Selling

In related news, CAO Daniel Borges sold 6,433 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares in the company, valued at $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 172,552 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the transaction, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at $21,681,924.66. This represents a 42.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,242 shares of company stock worth $31,530,305 in the last 90 days. Insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $84.70 on Wednesday. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The company has a market cap of $24.88 billion, a PE ratio of 138.86, a P/E/G ratio of 5.15 and a beta of 1.04. The business has a 50-day simple moving average of $99.43 and a two-hundred day simple moving average of $110.61.

Iron Mountain (NYSE:IRM) last released 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 negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the business earned $0.52 earnings per share. On average, sell-side analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a $0.785 dividend. This represents a $3.14 annualized dividend and a dividend yield of 3.71%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio is presently 514.75%.

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.