Chevy Chase Trust Holdings LLC Lowers Holdings in Iron Mountain Incorporated (NYSE:IRM)

Chevy Chase Trust Holdings LLC decreased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 2.1% in the 4th quarter, HoldingsChannel reports. The firm owned 153,995 shares of the financial services provider’s stock after selling 3,284 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Iron Mountain were worth $16,186,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC boosted its stake in shares of Iron Mountain by 1.6% in the third quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock valued at $978,479,000 after purchasing an additional 128,622 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Iron Mountain by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock valued at $402,396,000 after purchasing an additional 141,675 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Iron Mountain by 537.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider’s stock valued at $376,756,000 after purchasing an additional 2,672,821 shares during the period. Captrust Financial Advisors boosted its stake in shares of Iron Mountain by 5.2% in the third quarter. Captrust Financial Advisors now owns 951,552 shares of the financial services provider’s stock valued at $113,073,000 after purchasing an additional 47,327 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Iron Mountain by 1.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 910,723 shares of the financial services provider’s stock valued at $95,726,000 after purchasing an additional 10,160 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

IRM has been the subject of several recent research reports. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada lifted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Barclays decreased their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. 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 note on Tuesday, February 4th. Finally, StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and an average price target of $129.17.

Insider Activity

In other news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. Insiders have sold 162,391 shares of company stock valued at $16,805,912 in the last ninety days. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Trading Up 0.1 %

Shares of NYSE:IRM opened at $95.34 on Friday. The company has a market capitalization of $27.98 billion, a PE ratio of 264.85, a P/E/G ratio of 5.84 and a beta of 1.01. Iron Mountain Incorporated has a twelve month low of $67.09 and a twelve month high of $130.24. The firm has a 50 day simple moving average of $105.45 and a 200-day simple moving average of $112.78.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data 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). The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a negative return on equity of 44,660.04% and a net margin of 1.77%. During the same quarter in the prior year, the firm posted $0.52 EPS. As a group, equities research analysts predict that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm 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. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.29%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s payout ratio is presently 794.47%.

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.