Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Twin Tree Management LP

Twin Tree Management LP decreased its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 92.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,989 shares of the financial services provider's stock after selling 254,449 shares during the quarter. Twin Tree Management LP's holdings in Iron Mountain were worth $2,101,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IRM. IMG Wealth Management Inc. purchased a new position in shares of Iron Mountain during the 4th quarter worth $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Iron Mountain during the fourth quarter worth about $26,000. Key Financial Inc increased its position in Iron Mountain by 25,100.0% during the fourth 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 last quarter. Teachers Insurance & Annuity Association of America purchased a new position in Iron Mountain during the third quarter worth about $36,000. Finally, Dunhill Financial LLC boosted its holdings in Iron Mountain by 50.5% in 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. Institutional investors and hedge funds own 80.13% of the company's stock.

Analyst Ratings Changes

IRM has been the subject of a number of recent analyst reports. Barclays cut their price target on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a report on Thursday. StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research report on Saturday. 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 report on Tuesday, February 4th. Royal Bank of Canada raised their price objective 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, JPMorgan Chase & Co. decreased their target price on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Iron Mountain has an average rating of "Buy" and an average price target of $125.67.

Remove Ads

Iron Mountain Trading Down 0.9 %

Iron Mountain stock traded down $0.79 during midday trading on Friday, reaching $87.64. 3,116,949 shares of the stock traded hands, compared to its average volume of 1,684,595. The firm has a market cap of $25.74 billion, a PE ratio of 143.67, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. The company has a 50-day simple moving average of $96.89 and a two-hundred day simple moving average of $109.22. Iron Mountain Incorporated has a 12-month low of $73.53 and a 12-month high of $130.24.

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

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a dividend of $0.785 per share. The ex-dividend date is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.58%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio is currently 514.75%.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 69,131 shares of the business's 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $15,759,174.16. Following the sale, the chief executive officer now owns 237,402 shares in the company, valued at $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 327,242 shares of company stock worth $31,530,305. Company 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.