Iron Mountain Incorporated (NYSE:IRM) Shares Sold by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 9.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,679 shares of the financial services provider’s stock after selling 887 shares during the period. J.W. Cole Advisors Inc.’s holdings in Iron Mountain were worth $912,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Iron Mountain by 537.0% during the 3rd 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 acquiring an additional 2,672,821 shares in the last quarter. Mizuho Securities USA LLC lifted its position in shares of Iron Mountain by 2,193.9% during the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider’s stock worth $61,613,000 after purchasing an additional 495,898 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Iron Mountain by 12,953.4% in the third quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider’s stock valued at $53,312,000 after purchasing an additional 445,207 shares during the period. abrdn plc grew its holdings in shares of Iron Mountain by 88.2% in the third quarter. abrdn plc now owns 626,280 shares of the financial services provider’s stock valued at $73,770,000 after purchasing an additional 293,425 shares in the last quarter. Finally, Strategic Financial Concepts LLC increased its stake in Iron Mountain by 10,432.5% during the 4th quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider’s stock worth $243,000 after buying an additional 240,261 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on IRM shares. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lowered their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Barclays lowered their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada raised their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $127.67.

Iron Mountain Trading Down 1.4 %

Shares of Iron Mountain stock opened at $94.04 on Wednesday. The company has a fifty day simple moving average of $104.71 and a 200-day simple moving average of $112.66. Iron Mountain Incorporated has a 12-month low of $67.09 and a 12-month high of $130.24. The stock has a market cap of $27.60 billion, a price-to-earnings ratio of 261.22, a PEG ratio of 5.84 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last posted its 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 firm had revenue of $1.58 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $0.52 EPS. On average, analysts forecast that Iron Mountain Incorporated will post 4.18 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed 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 is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio is presently 794.47%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the firm’s 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 162,391 shares of company stock worth $16,805,912. 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.