Coastline Trust Co Sells 3,335 Shares of Iron Mountain Incorporated (NYSE:IRM)

Coastline Trust Co decreased its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 64.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,812 shares of the financial services provider's stock after selling 3,335 shares during the quarter. Coastline Trust Co's holdings in Iron Mountain were worth $190,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Merit Financial Group LLC boosted its holdings in shares of Iron Mountain by 91.5% during the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider's stock valued at $1,570,000 after acquiring an additional 7,137 shares during the last quarter. Tidal Investments LLC increased its stake in Iron Mountain by 254.1% in the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider's stock worth $2,440,000 after buying an additional 14,737 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in Iron Mountain by 151.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider's stock worth $961,000 after purchasing an additional 5,511 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Iron Mountain during the fourth quarter worth $102,000. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Iron Mountain during the third quarter valued at about $24,122,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Performance

NYSE IRM traded up $1.18 during trading hours on Wednesday, reaching $84.21. The company's stock had a trading volume of 1,007,517 shares, compared to its average volume of 1,828,977. The stock has a market cap of $24.74 billion, a PE ratio of 138.06, a PEG ratio of 5.15 and a beta of 0.97. The company's 50-day moving average is $86.62 and its two-hundred day moving average is $103.84. Iron Mountain Incorporated has a fifty-two week low of $72.33 and a fifty-two week high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its earnings results 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 for the quarter, compared to analysts' expectations 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 in the previous year, the firm posted $0.52 EPS. Equities analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.73%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's payout ratio is currently 514.75%.

Wall Street Analyst Weigh In

Several brokerages have commented on IRM. Barclays cut their price objective on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. JPMorgan Chase & Co. cut their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a report on Tuesday, February 18th. Truist Financial began coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price on the stock. Wells Fargo & Company lowered their target price on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Finally, StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $121.29.

Insider Buying and Selling at Iron Mountain

In other news, CAO Daniel Borges sold 6,433 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer now owns 288 shares in the company, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold 318,973 shares of company stock valued at $29,370,872 in the last quarter. Corporate insiders own 2.10% of the company's stock.

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.