JPMorgan Chase & Co. cut its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 20.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,750,066 shares of the financial services provider's stock after selling 451,004 shares during the quarter. JPMorgan Chase & Co. owned about 0.60% of Iron Mountain worth $183,949,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elo Mutual Pension Insurance Co boosted its position in shares of Iron Mountain by 17.4% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 30,387 shares of the financial services provider's stock worth $3,194,000 after buying an additional 4,511 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Iron Mountain by 7.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 657,443 shares of the financial services provider's stock valued at $69,492,000 after acquiring an additional 45,569 shares in the last quarter. Korea Investment CORP boosted its position in Iron Mountain by 84.1% during the 4th quarter. Korea Investment CORP now owns 198,842 shares of the financial services provider's stock worth $20,900,000 after acquiring an additional 90,851 shares during the period. Trust Investment Advisors grew its stake in shares of Iron Mountain by 11.4% in the fourth quarter. Trust Investment Advisors now owns 18,163 shares of the financial services provider's stock worth $1,909,000 after purchasing an additional 1,860 shares in the last quarter. Finally, Prestige Wealth Management Group LLC raised its stake in shares of Iron Mountain by 8.2% during the fourth quarter. Prestige Wealth Management Group LLC now owns 4,160 shares of the financial services provider's stock valued at $440,000 after purchasing an additional 314 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction 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 transaction, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Daniel Borges sold 6,433 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the sale, the chief accounting officer now directly owns 288 shares of the company's stock, valued at approximately $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 249,848 shares of company stock worth $23,418,519. Corporate insiders own 2.10% of the company's stock.
Iron Mountain Trading Down 5.7 %
Shares of NYSE IRM traded down $5.04 during mid-day trading on Thursday, reaching $83.07. The company had a trading volume of 1,967,517 shares, compared to its average volume of 2,150,846. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24. The stock has a market cap of $24.40 billion, a PE ratio of 136.17, a P/E/G ratio of 5.15 and a beta of 1.04. The company has a 50-day moving average price of $93.59 and a two-hundred day moving average price of $107.75.
Iron Mountain (NYSE:IRM - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (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 for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. On average, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.
Iron Mountain Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be paid a $0.785 dividend. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.78%. Iron Mountain's dividend payout ratio (DPR) is currently 514.75%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price 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. Barclays cut their target price on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research report on Thursday, March 20th. Wells Fargo & Company cut their price objective 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, StockNews.com lowered Iron Mountain from a "hold" rating to a "sell" rating in a report on Monday. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $125.67.
Check Out Our Latest Stock Analysis on IRM
Iron Mountain Company Profile
(
Free Report)
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.
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