Corient Private Wealth LLC Trims Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Corient Private Wealth LLC lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 2.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 216,142 shares of the financial services provider's stock after selling 6,087 shares during the period. Corient Private Wealth LLC owned approximately 0.07% of Iron Mountain worth $22,719,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Key Financial Inc boosted its stake in shares of Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after buying an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC purchased a new position in Iron Mountain in the fourth quarter worth $26,000. Teachers Insurance & Annuity Association of America purchased a new position in Iron Mountain in the third quarter worth $36,000. Parkworth Wealth Management Inc. purchased a new position in shares of Iron Mountain in the 4th quarter worth about $53,000. Finally, Dunhill Financial LLC boosted its holdings in shares of Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider's stock worth $54,000 after buying an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company's stock.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the business's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 327,242 shares of company stock valued at $31,530,305 in the last ninety days. Company insiders own 2.10% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company dropped 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. JPMorgan Chase & Co. dropped 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. Royal Bank of Canada increased 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. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Barclays decreased their target price on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a report on Thursday. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $125.67.

Iron Mountain Stock Down 0.9 %

Shares of NYSE IRM traded down $0.79 during trading hours on Friday, reaching $87.64. 3,116,949 shares of the stock traded hands, compared to its average volume of 1,684,595. The company has a market capitalization of $25.74 billion, a P/E ratio of 143.67, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24. The company's 50-day simple moving average is $96.89 and its two-hundred day simple moving average is $109.22.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). The business 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 period last year, the business posted $0.52 earnings per share. As a group, sell-side analysts forecast 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 will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.58%. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's payout ratio is currently 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.