Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,995 shares of the financial services provider's stock after selling 3,284 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Iron Mountain worth $16,186,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of Iron Mountain in the third quarter worth about $31,000. West Branch Capital LLC purchased a new stake in Iron Mountain in the third quarter worth about $33,000. Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain in the third quarter worth about $36,000. Dunhill Financial LLC lifted its stake in Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider's stock worth $54,000 after acquiring an additional 152 shares during the period. Finally, Oakworth Capital Inc. purchased a new stake in Iron Mountain in the fourth quarter worth about $55,000. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IRM. Barclays lowered their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Royal Bank of Canada increased their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a research report on Wednesday, November 27th. StockNews.com lowered shares of Iron Mountain from a "hold" rating to a "sell" rating in a research report on Tuesday, January 28th. 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. Finally, BNP Paribas raised shares of Iron Mountain to a "strong-buy" rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.67.

Iron Mountain Stock Down 1.6 %

Shares of Iron Mountain stock traded down $1.52 during midday trading on Wednesday, hitting $92.69. The company had a trading volume of 4,867,747 shares, compared to its average volume of 2,057,817. 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 $27.20 billion, a price-to-earnings ratio of 151.96, a PEG ratio of 5.25 and a beta of 1.01. The company has a fifty day simple moving average of $104.71 and a 200 day simple moving average of $112.66.

Iron Mountain (NYSE:IRM - Get Free Report) 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 analysts' expectations 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 EPS. As a group, analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's payout ratio is currently 468.85%.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mithu Bhargava sold 8,263 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following 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. Insiders have sold a total of 162,391 shares of company stock worth $16,805,912 in the last quarter. Company insiders own 2.10% of the company's stock.

Iron Mountain 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.