Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 34.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,557 shares of the financial services provider’s stock after selling 2,978 shares during the period. Brown Brothers Harriman & Co.’s holdings in Iron Mountain were worth $584,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Key Financial Inc boosted its stake in shares of Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in Iron Mountain during the fourth quarter worth approximately $26,000. IMG Wealth Management Inc. acquired a new stake in Iron Mountain during the fourth quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. raised its holdings in Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new position in shares of Iron Mountain during the 4th quarter worth $53,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 172,552 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the completion of the sale, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. This trade represents a 42.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares in the company, valued at $26,737.92. This represents a 95.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 318,979 shares of company stock valued at $30,666,904. Corporate insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IRM shares. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research report on Saturday, March 22nd. Barclays dropped their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Wells Fargo & Company decreased their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $125.67.

Iron Mountain Stock Performance

IRM opened at $85.07 on Monday. The company has a market cap of $24.99 billion, a PE ratio of 139.46, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 1 year low of $73.53 and a 1 year high of $130.24. The firm has a 50 day moving average price of $94.97 and a 200 day moving average price of $108.31.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. On average, sell-side analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) 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.