Avantax Advisory Services Inc. Sells 3,691 Shares of Iron Mountain Incorporated (NYSE:IRM)

Avantax Advisory Services Inc. cut its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,623 shares of the financial services provider's stock after selling 3,691 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Iron Mountain were worth $7,528,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Key Financial Inc raised its holdings in Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Iron Mountain in the fourth quarter valued at about $26,000. Ashton Thomas Securities LLC bought a new position in Iron Mountain during the third quarter worth about $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain in the third quarter valued at approximately $36,000. Finally, Parkworth Wealth Management Inc. acquired a new stake in shares of Iron Mountain during the 4th quarter worth $53,000. Institutional investors own 80.13% of the company's stock.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of Iron Mountain 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 sale, 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 document filed with the SEC, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,131 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,242 shares of company stock valued at $31,530,305. Company insiders own 2.10% of the company's stock.

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Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays dropped their target price on shares of Iron Mountain from $131.00 to $130.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. StockNews.com downgraded Iron Mountain from a "hold" rating to a "sell" rating in a research note on Friday. Wells Fargo & Company lowered 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 report 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 report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. reduced their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Iron Mountain presently has an average rating of "Moderate Buy" and a consensus target price of $127.67.

Iron Mountain Price Performance

Shares of Iron Mountain stock traded up $2.51 on Monday, hitting $89.13. 2,581,022 shares of the company's stock traded hands, compared to its average volume of 1,674,827. The company has a market capitalization of $26.18 billion, a price-to-earnings ratio of 146.11, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. The company has a fifty day moving average of $98.28 and a two-hundred day moving average of $110.03. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24.

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 analysts' consensus estimates of $1.20 by ($0.70). The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate 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 prior year, the business earned $0.52 EPS. Equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.52%. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain's payout ratio is presently 514.75%.

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.