Congress Wealth Management LLC DE Cuts Position in Iron Mountain Incorporated (NYSE:IRM)

Congress Wealth Management LLC DE lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 39.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,906 shares of the financial services provider's stock after selling 21,401 shares during the period. Congress Wealth Management LLC DE's holdings in Iron Mountain were worth $3,459,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Stevens Capital Management LP lifted its stake in shares of Iron Mountain by 102.7% during the 4th quarter. Stevens Capital Management LP now owns 3,564 shares of the financial services provider's stock worth $375,000 after purchasing an additional 1,806 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Iron Mountain in the fourth quarter worth about $10,278,000. Knights of Columbus Asset Advisors LLC lifted its position in shares of Iron Mountain by 5.5% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 191,305 shares of the financial services provider's stock valued at $20,108,000 after buying an additional 9,951 shares during the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of Iron Mountain by 46.2% in the 4th quarter. Mizuho Securities USA LLC now owns 27,813 shares of the financial services provider's stock valued at $2,923,000 after buying an additional 8,792 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in shares of Iron Mountain by 820.8% in the 4th quarter. Quantbot Technologies LP now owns 45,922 shares of the financial services provider's stock worth $4,827,000 after buying an additional 40,935 shares during the last quarter. Institutional investors own 80.13% of the company's stock.

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Analysts Set New Price Targets

IRM has been the subject of a number of analyst reports. 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 report on Tuesday, February 4th. StockNews.com cut Iron Mountain from a "hold" rating to a "sell" rating in a research report on Monday. Barclays dropped 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, JPMorgan Chase & Co. decreased their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. One 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 MarketBeat, Iron Mountain presently has an average rating of "Moderate Buy" and an average target price of $125.67.

Iron Mountain Stock Up 1.2 %

Shares of IRM traded up $1.04 during trading hours on Monday, reaching $86.14. 2,368,331 shares of the company traded hands, compared to its average volume of 1,765,927. The business has a fifty day moving average price of $94.51 and a 200-day moving average price of $108.10. Iron Mountain Incorporated has a 12-month low of $73.53 and a 12-month high of $130.24. The stock has a market capitalization of $25.30 billion, a P/E ratio of 141.21, a P/E/G ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly 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 net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio is 514.75%.

Insider Buying and Selling at Iron Mountain

In related news, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain 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 $161,355.92. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 172,552 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly 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. In the last ninety days, insiders sold 318,979 shares of company stock worth $30,666,904. Company insiders own 2.10% of the company's stock.

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.