Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 97,103 shares of the financial services provider's stock after selling 6,807 shares during the period. Victory Capital Management Inc.'s holdings in Iron Mountain were worth $10,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Iron Mountain by 537.0% in 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 worth $376,756,000 after buying an additional 2,672,821 shares during the last quarter. Mizuho Securities USA LLC boosted its stake 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 acquiring an additional 495,898 shares in the last quarter. Aew Capital Management L P grew its holdings in Iron Mountain by 55.6% in the fourth quarter. Aew Capital Management L P now owns 678,887 shares of the financial services provider's stock worth $71,358,000 after purchasing an additional 242,490 shares during the last quarter. Strategic Financial Concepts LLC increased its position in shares of Iron Mountain by 10,432.5% during the fourth 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 in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Iron Mountain by 368.4% during the 3rd quarter. KBC Group NV now owns 305,392 shares of the financial services provider's stock valued at $36,289,000 after purchasing an additional 240,195 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors.

Remove Ads

Analyst Ratings Changes

IRM has been the topic of several research analyst reports. StockNews.com downgraded Iron Mountain from a "hold" rating to a "sell" rating in a research note on Friday. Royal Bank of Canada boosted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 27th. Barclays decreased their price target on shares of Iron Mountain from $131.00 to $130.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. JPMorgan Chase & Co. cut their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company cut their price objective on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Iron Mountain presently has a consensus rating of "Moderate Buy" and an average price target of $127.67.

Insider Activity

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer now owns 288 shares in the company, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 327,242 shares of company stock worth $31,530,305 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Price Performance

IRM stock traded up $3.29 during trading on Monday, hitting $89.13. 2,581,014 shares of the company traded hands, compared to its average volume of 1,674,827. Iron Mountain Incorporated has a 1 year low of $73.53 and a 1 year high of $130.24. The company has a market cap of $26.18 billion, a PE ratio of 146.11, a P/E/G ratio of 5.15 and a beta of 1.04. The stock's 50-day simple moving average is $98.28 and its 200 day simple moving average is $110.03.

Iron Mountain (NYSE:IRM - Get Free Report) last posted its earnings results 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). The firm had revenue of $1.58 billion for 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 firm earned $0.52 earnings per share. Research analysts expect 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. Shareholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.52%. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. Iron Mountain's dividend payout ratio (DPR) is presently 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.