Empowered Funds LLC Reduces Position in Iron Mountain Incorporated (NYSE:IRM)

Empowered Funds LLC trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 61.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,191 shares of the financial services provider's stock after selling 8,291 shares during the quarter. Empowered Funds LLC's holdings in Iron Mountain were worth $546,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. OneDigital Investment Advisors LLC increased its position in shares of Iron Mountain by 1.5% during the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider's stock worth $711,000 after purchasing an additional 89 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Iron Mountain by 0.8% during the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider's stock worth $1,351,000 after purchasing an additional 92 shares in the last quarter. Geller Advisors LLC increased its position in shares of Iron Mountain by 2.9% during the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider's stock worth $403,000 after purchasing an additional 96 shares in the last quarter. Schmidt P J Investment Management Inc. increased its position in shares of Iron Mountain by 3.6% during the third quarter. Schmidt P J Investment Management Inc. now owns 2,860 shares of the financial services provider's stock worth $340,000 after purchasing an additional 100 shares in the last quarter. Finally, Claro Advisors LLC increased its position in shares of Iron Mountain by 0.6% during the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider's stock worth $1,986,000 after purchasing an additional 103 shares in the last quarter. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IRM. StockNews.com cut Iron Mountain from a "hold" rating to a "sell" rating in a report on Tuesday, January 28th. BNP Paribas upgraded Iron Mountain to a "strong-buy" rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. dropped their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Tuesday. Wells Fargo & Company dropped their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Finally, Royal Bank of Canada upped their target price on Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $127.67.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,872 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 162,391 shares of company stock worth $16,805,912. 2.10% of the stock is currently owned by insiders.

Iron Mountain Price Performance

Shares of IRM stock traded down $1.73 during trading hours on Friday, hitting $91.77. The company had a trading volume of 2,392,293 shares, compared to its average volume of 2,125,605. The company's fifty day moving average is $103.91 and its 200 day moving average is $112.39. Iron Mountain Incorporated has a fifty-two week low of $70.00 and a fifty-two week high of $130.24. The stock has a market capitalization of $26.96 billion, a PE ratio of 150.44, a price-to-earnings-growth ratio of 5.11 and a beta of 1.01.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings data 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). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the company posted $0.52 earnings per share. Equities analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current 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. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain's dividend payout ratio is currently 514.75%.

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.