National Bank of Canada FI Lowers Position in Iron Mountain Incorporated (NYSE:IRM)

National Bank of Canada FI reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 10.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 151,618 shares of the financial services provider’s stock after selling 17,074 shares during the period. National Bank of Canada FI owned approximately 0.05% of Iron Mountain worth $15,937,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Franklin Resources Inc. boosted its position in shares of Iron Mountain by 3.1% during the 4th quarter. Franklin Resources Inc. now owns 124,916 shares of the financial services provider’s stock worth $13,130,000 after purchasing an additional 3,707 shares during the period. B. Metzler seel. Sohn & Co. AG lifted its stake in Iron Mountain by 7.2% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 24,698 shares of the financial services provider’s stock worth $2,594,000 after purchasing an additional 1,651 shares in the last quarter. Summit Financial LLC boosted its position in shares of Iron Mountain by 39.7% during the fourth quarter. Summit Financial LLC now owns 6,135 shares of the financial services provider’s stock worth $648,000 after buying an additional 1,744 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of Iron Mountain by 14.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 24,473 shares of the financial services provider’s stock valued at $2,572,000 after buying an additional 3,008 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of Iron Mountain in the 4th quarter valued at $210,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Transactions at Iron Mountain

In related news, EVP Mithu Bhargava sold 1,738 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now owns 13,054 shares in the company, valued at $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Daniel Borges sold 6,433 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 318,973 shares of company stock valued at $29,370,872. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lowered their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Monday, March 31st. Barclays cut their target price on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus price target of $125.67.

Iron Mountain Stock Performance

IRM stock opened at $77.31 on Friday. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The company’s 50 day moving average price is $92.35 and its 200 day moving average price is $107.29. The firm has a market capitalization of $22.71 billion, a price-to-earnings ratio of 126.74, a PEG ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates 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 in the previous year, the business posted $0.52 earnings per share. Equities analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were issued a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 4.06%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 17th. Iron Mountain’s payout ratio is 514.75%.

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.