Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Vectors Research Management LLC

Vectors Research Management LLC decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 11.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,453 shares of the financial services provider’s stock after selling 4,979 shares during the quarter. Iron Mountain comprises about 1.4% of Vectors Research Management LLC’s investment portfolio, making the stock its 19th biggest position. Vectors Research Management LLC’s holdings in Iron Mountain were worth $4,042,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Key Financial Inc boosted its stake in Iron Mountain by 25,100.0% in the 4th 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 last quarter. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Iron Mountain in the 4th quarter valued at $26,000. IMG Wealth Management Inc. purchased a new position in shares of Iron Mountain in the 4th quarter worth $26,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Iron Mountain by 46.4% in the fourth 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 stake in Iron Mountain during the fourth quarter valued at about $53,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on IRM shares. Barclays reduced their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Truist Financial started coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They set a “buy” rating and a $95.00 price objective for the company. JPMorgan Chase & Co. cut their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Wells Fargo & Company decreased their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Iron Mountain has an average rating of “Buy” and an average target price of $121.29.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $84.21 on Monday. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24. The company has a market capitalization of $24.74 billion, a PE ratio of 138.05, a P/E/G ratio of 5.15 and a beta of 0.97. The business has a 50-day moving average of $87.29 and a 200-day moving average of $104.24.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. On average, equities analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were paid a dividend of $0.785 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.73%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is presently 514.75%.

Insider Transactions at Iron Mountain

In related news, CAO Daniel Borges sold 6,433 shares of the stock in a transaction dated Monday, March 3rd. The shares were 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 of the company’s stock, valued at $26,737.92. This trade represents a 95.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total transaction of $5,952,353.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 318,973 shares of company stock worth $29,370,872. 2.10% of the stock is currently owned by corporate insiders.

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.