Prudential Financial Inc. Sells 244,936 Shares of Iron Mountain Incorporated (NYSE:IRM)

Prudential Financial Inc. trimmed its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 15.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,363,213 shares of the financial services provider's stock after selling 244,936 shares during the period. Prudential Financial Inc. owned about 0.46% of Iron Mountain worth $143,287,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Prospera Financial Services Inc increased its position in Iron Mountain by 11.3% in the third quarter. Prospera Financial Services Inc now owns 2,808 shares of the financial services provider's stock worth $334,000 after purchasing an additional 285 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Iron Mountain by 2.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider's stock valued at $6,402,000 after purchasing an additional 1,446 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in shares of Iron Mountain during the 3rd quarter worth approximately $1,427,000. Citigroup Inc. raised its stake in shares of Iron Mountain by 8.4% during the third quarter. Citigroup Inc. now owns 268,389 shares of the financial services provider's stock worth $31,893,000 after buying an additional 20,905 shares during the last quarter. Finally, Nwam LLC acquired a new position in Iron Mountain in the third quarter valued at approximately $289,000. 80.13% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares of the company's stock, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 172,552 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the transaction, the chief executive officer now directly owns 237,402 shares of the company's stock, valued at approximately $21,681,924.66. This trade represents a 42.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 318,979 shares of company stock worth $30,666,904 over the last three months. Corporate insiders own 2.10% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have commented on IRM. JPMorgan Chase & Co. dropped 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. StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a research note on Saturday, March 22nd. Barclays decreased 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. Finally, Wells Fargo & Company lowered their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $125.67.

Iron Mountain Trading Down 0.5 %

Shares of NYSE IRM traded down $0.44 during mid-day trading on Friday, reaching $85.07. 1,293,278 shares of the company's stock were exchanged, compared to its average volume of 1,763,517. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24. The firm has a market capitalization of $24.99 billion, a price-to-earnings ratio of 139.46, a PEG ratio of 5.15 and a beta of 1.04. The business has a fifty day simple moving average of $94.97 and a 200 day simple moving average of $108.39.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share 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 company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the firm posted $0.52 EPS. Equities research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a $0.785 dividend. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.69%. Iron Mountain's dividend payout ratio (DPR) 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.