Iron Mountain Incorporated (NYSE:IRM) Stock Holdings Reduced by Vestcor Inc

Vestcor Inc lowered its position in Iron Mountain Incorporated (NYSE:IRM) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,799 shares of the financial services provider’s stock after selling 426 shares during the quarter. Vestcor Inc’s holdings in Iron Mountain were worth $9,018,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Key Financial Inc grew its stake in Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC purchased a new position in Iron Mountain in the fourth quarter valued at about $26,000. 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. Finally, Parkworth Wealth Management Inc. purchased a new position in Iron Mountain in the fourth quarter valued at about $53,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 172,552 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the transaction, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. This represents a 42.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 sold 327,242 shares of company stock valued at $31,530,305. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

IRM has been the subject of a number of analyst reports. Barclays reduced their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Royal Bank of Canada upped their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Wells Fargo & Company decreased their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. decreased their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $127.67.

Iron Mountain Stock Up 2.3 %

Shares of NYSE:IRM opened at $86.45 on Thursday. The business has a 50 day moving average price of $99.06 and a 200 day moving average price of $110.45. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24. The company has a market cap of $25.39 billion, a price-to-earnings ratio of 141.72, a PEG ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data 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 firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the business posted $0.52 EPS. Analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.63%. Iron Mountain’s dividend payout ratio is presently 514.75%.

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.