Iron Mountain Incorporated (NYSE:IRM) Stock Position Trimmed by Sei Investments Co.

Sei Investments Co. cut its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 848,367 shares of the financial services provider's stock after selling 68,256 shares during the quarter. Sei Investments Co. owned about 0.29% of Iron Mountain worth $89,172,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of IRM. Key Financial Inc grew its holdings in shares of Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after purchasing an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC acquired a new position in Iron Mountain in the fourth quarter valued at about $26,000. IMG Wealth Management Inc. purchased a new position in Iron Mountain during the fourth quarter worth about $26,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain during the third quarter valued at about $36,000. Finally, 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 acquiring an additional 155 shares during the period. Hedge funds and other institutional investors own 80.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IRM shares. JPMorgan Chase & Co. dropped their price objective on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. StockNews.com raised Iron Mountain from a "sell" rating to a "hold" rating in a research report on Saturday, March 22nd. Wells Fargo & Company reduced their price target on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Barclays dropped their price objective on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. Finally, Royal Bank of Canada upped their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. One investment 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 stock. According to data from MarketBeat, Iron Mountain has an average rating of "Buy" and a consensus price target of $125.67.

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Iron Mountain Stock Performance

IRM stock traded down $1.49 during trading on Thursday, reaching $85.54. 1,485,109 shares of the company were exchanged, compared to its average volume of 1,684,253. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24. The company has a market cap of $25.13 billion, a P/E ratio of 140.23, a PEG ratio of 5.15 and a beta of 1.04. The stock's 50 day moving average price is $95.94 and its 200 day moving average price is $108.73.

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 (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). The business had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period last year, the company earned $0.52 EPS. As a group, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current 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 given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's payout ratio is 514.75%.

Insider Transactions at Iron Mountain

In related news, EVP Mithu Bhargava sold 1,738 shares of the business's stock in a transaction that occurred 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 directly owns 13,054 shares of the company's stock, valued at approximately $1,211,933.36. The trade was a 11.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William L. Meaney sold 172,552 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 237,402 shares in the company, valued at $21,681,924.66. This 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 in the last three months. 2.10% of the stock is currently owned by company insiders.

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.