KCM Investment Advisors LLC Decreases Holdings in Iron Mountain Incorporated (NYSE:IRM)

KCM Investment Advisors LLC decreased its holdings in Iron Mountain Incorporated (NYSE:IRM) by 1.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,310 shares of the financial services provider’s stock after selling 248 shares during the period. KCM Investment Advisors LLC’s holdings in Iron Mountain were worth $2,240,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Key Financial Inc boosted its position in Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after buying an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain during the 4th quarter worth approximately $26,000. IMG Wealth Management Inc. purchased a new stake in shares of Iron Mountain during the fourth quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Iron Mountain by 46.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new position in shares of Iron Mountain in the fourth quarter worth $53,000. Institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total value of $5,952,353.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William L. Meaney sold 172,552 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the transaction, the chief executive officer now owns 237,402 shares of the company’s stock, valued at $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 318,973 shares of company stock valued at $29,370,872 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Wells Fargo & Company reduced their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Barclays reduced their target price on 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, StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $125.67.

Iron Mountain Stock Performance

IRM stock opened at $77.31 on Friday. The company has a market capitalization of $22.71 billion, a price-to-earnings ratio of 126.74, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. The business’s 50 day moving average price is $92.35 and its two-hundred day moving average price is $107.23. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) 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 the consensus estimate 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 quarter last year, the company posted $0.52 EPS. Sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

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