Geode Capital Management LLC Sells 345,856 Shares of Iron Mountain Incorporated (NYSE:IRM)

Geode Capital Management LLC decreased its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,912,109 shares of the financial services provider's stock after selling 345,856 shares during the period. Geode Capital Management LLC owned about 2.70% of Iron Mountain worth $832,881,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Key Financial Inc increased its position in shares of Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC bought a new stake in Iron Mountain in the 4th quarter valued at $26,000. IMG Wealth Management Inc. acquired a new position in shares of Iron Mountain in the 4th quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Iron Mountain by 46.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock valued at $51,000 after buying an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. acquired a new stake in shares of Iron Mountain during the 4th quarter valued at about $53,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Stock Down 0.8 %

IRM traded down $0.65 during trading on Monday, hitting $76.54. The company's stock had a trading volume of 1,087,493 shares, compared to its average volume of 1,783,660. The stock has a market capitalization of $22.48 billion, a price-to-earnings ratio of 124.54, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. The firm's 50 day moving average price is $92.35 and its two-hundred day moving average price is $107.17. Iron Mountain Incorporated has a 12 month low of $72.54 and a 12 month high of $130.24.

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Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly 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). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the firm earned $0.52 earnings per share. On average, sell-side 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 declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were paid a dividend of $0.785 per share. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Monday, March 17th. Iron Mountain's dividend payout ratio is 514.75%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. 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. Barclays decreased their price target 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, StockNews.com lowered Iron Mountain from a "hold" rating to a "sell" rating in a research note on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $125.67.

Insider Activity at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the company's stock in a transaction dated 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 directly owns 288 shares in the company, valued at approximately $26,737.92. This represents a 95.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the sale, the chief executive officer now owns 237,402 shares of the company's stock, valued at approximately $21,681,924.66. This represents a 42.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 318,973 shares of company stock valued at $29,370,872 over the last quarter. Corporate 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.