Rhumbline Advisers Sells 32,270 Shares of Iron Mountain Incorporated (NYSE:IRM)

Rhumbline Advisers reduced its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 637,206 shares of the financial services provider's stock after selling 32,270 shares during the period. Rhumbline Advisers owned approximately 0.22% of Iron Mountain worth $66,977,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of IRM. Ashton Thomas Securities LLC bought a new stake in Iron Mountain in the third quarter valued at $31,000. West Branch Capital LLC bought a new stake in shares of Iron Mountain in the 3rd quarter worth about $33,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain during the 3rd quarter worth about $36,000. Dunhill Financial LLC lifted its holdings in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 152 shares during the last quarter. Finally, Oakworth Capital Inc. acquired a new position in Iron Mountain in the fourth quarter valued at about $55,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Price Performance

Shares of IRM stock traded up $0.52 on Thursday, reaching $93.39. 4,132,063 shares of the stock were exchanged, compared to its average volume of 2,120,683. Iron Mountain Incorporated has a one year low of $67.89 and a one year high of $130.24. The stock has a market cap of $27.43 billion, a PE ratio of 153.10, a P/E/G ratio of 5.19 and a beta of 1.01. The stock has a 50 day moving average price of $104.30 and a 200 day moving average price of $112.52.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings data 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 negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. On average, research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Monday, March 17th. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's payout ratio is currently 468.85%.

Analyst Ratings Changes

IRM has been the subject of several recent analyst reports. StockNews.com lowered shares of Iron Mountain from a "hold" rating to a "sell" rating in a report on Tuesday, January 28th. Wells Fargo & Company dropped their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research note on Tuesday. Royal Bank of Canada raised their target price on Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a research note on Wednesday, November 27th. Finally, Barclays cut their price target on Iron Mountain from $131.00 to $130.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $127.67.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 162,391 shares of company stock worth $16,805,912. Insiders own 2.10% of the company's stock.

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.