Gulf International Bank UK Ltd Sells 246 Shares of Iron Mountain Incorporated (NYSE:IRM)

Gulf International Bank UK Ltd reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 22,829 shares of the financial services provider’s stock after selling 246 shares during the period. Gulf International Bank UK Ltd’s holdings in Iron Mountain were worth $2,399,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 worth $376,756,000 after purchasing an additional 2,672,821 shares in the last quarter. Mizuho Securities USA LLC boosted its holdings in Iron Mountain by 2,193.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after buying an additional 495,898 shares during the period. Strategic Financial Concepts LLC grew its stake in Iron Mountain by 10,432.5% in the 4th quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock valued at $243,000 after buying an additional 240,261 shares in the last quarter. KBC Group NV raised its holdings in Iron Mountain by 368.4% during the 3rd quarter. KBC Group NV now owns 305,392 shares of the financial services provider’s stock valued at $36,289,000 after acquiring an additional 240,195 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Iron Mountain during the third quarter worth $26,429,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Trading Up 1.6 %

Shares of NYSE IRM opened at $93.15 on Friday. The business has a 50-day moving average of $102.11 and a 200-day moving average of $111.78. The firm has a market capitalization of $27.36 billion, a price-to-earnings ratio of 152.70, a PEG ratio of 5.15 and a beta of 1.01. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM) last released 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 company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period in the prior year, the firm earned $0.52 EPS. On average, analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. BNP Paribas raised Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada increased their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company reduced their price objective 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 upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $127.67.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 15,872 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction that occurred 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 162,391 shares of company stock valued at $16,805,912 over the last 90 days. Insiders own 2.10% of the company’s stock.

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.