Atria Investments Inc cut its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 15.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,348 shares of the financial services provider's stock after selling 3,098 shares during the period. Atria Investments Inc's holdings in Iron Mountain were worth $1,823,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Iron Mountain by 537.0% in 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 purchasing an additional 2,672,821 shares during the period. Mizuho Securities USA LLC lifted its holdings in shares of Iron Mountain by 2,193.9% in the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider's stock valued at $61,613,000 after purchasing an additional 495,898 shares in the last quarter. Aew Capital Management L P grew its holdings in shares of Iron Mountain by 55.6% during the fourth quarter. Aew Capital Management L P now owns 678,887 shares of the financial services provider's stock valued at $71,358,000 after buying an additional 242,490 shares in the last quarter. Strategic Financial Concepts LLC raised its position in Iron Mountain by 10,432.5% during the fourth 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 during the period. Finally, KBC Group NV lifted its stake in Iron Mountain by 368.4% in the 3rd quarter. KBC Group NV now owns 305,392 shares of the financial services provider's stock worth $36,289,000 after acquiring an additional 240,195 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.
Iron Mountain Trading Up 1.9 %
Iron Mountain stock traded up $1.58 during mid-day trading on Friday, hitting $86.68. 1,764,941 shares of the company's stock were exchanged, compared to its average volume of 1,676,742. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24. The stock has a 50 day moving average of $99.06 and a two-hundred day moving average of $110.45. The stock has a market cap of $25.46 billion, a P/E ratio of 142.09, a P/E/G ratio of 5.15 and a beta of 1.04.
Iron Mountain (NYSE:IRM - Get Free Report) last posted its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter last year, the firm posted $0.52 earnings per share. As a group, research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.
Iron Mountain Increases Dividend
The company also recently announced 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 a positive change from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.62%. Iron Mountain's payout ratio is currently 514.75%.
Insider Buying and Selling at Iron Mountain
In other news, CAO Daniel Borges sold 6,433 shares of the company'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 $597,239.72. Following the completion of the transaction, the chief accounting officer now directly owns 288 shares in the company, valued at $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,131 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. Insiders sold 327,242 shares of company stock worth $31,530,305 over the last ninety days. Company insiders own 2.10% of the company's stock.
Wall Street Analyst Weigh In
IRM has been the topic of a number of research reports. StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a report on Tuesday, February 25th. Barclays dropped their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company decreased their target price 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. Royal Bank of Canada upped their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. Finally, JPMorgan Chase & Co. reduced their price objective 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. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $127.67.
Check Out Our Latest Stock Analysis on Iron Mountain
About Iron Mountain
(
Free Report)
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.
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