Corrado Advisors LLC Sells 6,836 Shares of Iron Mountain Incorporated (NYSE:IRM)

Corrado Advisors LLC reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 32.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,541 shares of the financial services provider’s stock after selling 6,836 shares during the quarter. Corrado Advisors LLC’s holdings in Iron Mountain were worth $1,528,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC lifted its position in shares of Iron Mountain by 1.5% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock worth $711,000 after purchasing an additional 89 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Iron Mountain by 0.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after purchasing an additional 92 shares during the period. Geller Advisors LLC lifted its position in shares of Iron Mountain by 2.9% in the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock worth $403,000 after purchasing an additional 96 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Iron Mountain by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock worth $2,644,000 after purchasing an additional 100 shares during the period. Finally, Claro Advisors LLC lifted its position in shares of Iron Mountain by 0.6% in the 3rd quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock worth $1,986,000 after purchasing an additional 103 shares during the period. 80.13% of the stock is owned by institutional investors.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 162,391 shares of company stock worth $16,805,912. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Trading Up 0.7 %

Shares of IRM stock opened at $93.04 on Thursday. The firm has a market capitalization of $27.33 billion, a PE ratio of 152.52, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01. The firm has a fifty day simple moving average of $102.55 and a two-hundred day simple moving average of $112.03. Iron Mountain Incorporated has a 12 month low of $73.45 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM) last announced its quarterly 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). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter last year, the firm posted $0.52 EPS. On average, equities analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is 514.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on IRM shares. Barclays dropped their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. JPMorgan Chase & Co. dropped 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 report on Tuesday, February 18th. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company dropped 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. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $127.67.

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.