Sanctuary Advisors LLC Trims Position in Iron Mountain Incorporated (NYSE:IRM)

Sanctuary Advisors LLC reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,255 shares of the financial services provider's stock after selling 7,779 shares during the period. Sanctuary Advisors LLC's holdings in Iron Mountain were worth $12,368,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Iron Mountain by 537.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,170,550 shares of the financial services provider's stock valued at $376,756,000 after buying an additional 2,672,821 shares during the period. Mizuho Securities USA LLC raised its position in Iron Mountain by 2,193.9% in the third quarter. Mizuho Securities USA LLC now owns 518,501 shares of the financial services provider's stock valued at $61,613,000 after purchasing an additional 495,898 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Iron Mountain by 12,953.4% in the 3rd quarter. International Assets Investment Management LLC now owns 448,644 shares of the financial services provider's stock valued at $53,312,000 after purchasing an additional 445,207 shares during the last quarter. abrdn plc grew its holdings in shares of Iron Mountain by 88.2% during the 3rd quarter. abrdn plc now owns 626,280 shares of the financial services provider's stock worth $73,770,000 after purchasing an additional 293,425 shares during the period. Finally, Strategic Financial Concepts LLC grew its holdings in shares of Iron Mountain by 10,432.5% during the 4th quarter. Strategic Financial Concepts LLC now owns 242,564 shares of the financial services provider's stock worth $243,000 after purchasing an additional 240,261 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IRM has been the topic of a number of recent analyst reports. StockNews.com cut shares of Iron Mountain from a "hold" rating to a "sell" rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. lowered their price objective 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. Wells Fargo & Company cut their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada raised their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 27th. Finally, Barclays cut their price objective on Iron Mountain from $131.00 to $130.00 and set an "overweight" rating on the stock 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, Iron Mountain presently has an average rating of "Moderate Buy" and an average target price of $127.67.

Insider Transactions at Iron Mountain

In other news, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total transaction of $7,248,385.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the company's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company's stock, 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 ninety days, insiders sold 162,391 shares of company stock valued at $16,805,912. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Stock Performance

IRM stock traded down $1.73 during mid-day trading on Friday, reaching $91.77. The company had a trading volume of 2,392,295 shares, compared to its average volume of 2,128,673. Iron Mountain Incorporated has a fifty-two week low of $70.00 and a fifty-two week high of $130.24. The company has a market capitalization of $26.96 billion, a price-to-earnings ratio of 150.44, a price-to-earnings-growth ratio of 5.11 and a beta of 1.01. The firm has a fifty day simple moving average of $103.91 and a 200 day simple moving average of $112.39.

Iron Mountain (NYSE:IRM - Get Free Report) last issued 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 negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. As a group, analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm 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. The ex-dividend date is Monday, March 17th. This is a boost from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.42%. Iron Mountain's dividend payout ratio (DPR) is currently 514.75%.

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.