Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Principal Securities Inc.

Principal Securities Inc. lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,542 shares of the financial services provider’s stock after selling 138 shares during the quarter. Principal Securities Inc.’s holdings in Iron Mountain were worth $1,318,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain during the 3rd quarter valued at $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain during the third quarter valued at about $36,000. Dunhill Financial LLC increased its position in shares of Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 152 shares during the last quarter. Oakworth Capital Inc. purchased a new position in Iron Mountain in the fourth quarter valued at about $55,000. Finally, Quarry LP grew its stake in Iron Mountain by 86.5% during the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Activity

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was 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 in the company, valued at $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 162,391 shares of company stock valued at $16,805,912. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

Iron Mountain stock opened at $94.04 on Wednesday. Iron Mountain Incorporated has a one year low of $67.09 and a one year high of $130.24. The company has a 50-day simple moving average of $104.71 and a 200-day simple moving average of $112.66. The firm has a market capitalization of $27.60 billion, a P/E ratio of 261.22, a P/E/G ratio of 5.84 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results 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). The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a net margin of 1.77% and a negative return on equity of 44,660.04%. During the same quarter in the previous year, the business posted $0.52 EPS. As a group, sell-side analysts forecast that Iron Mountain Incorporated will post 4.18 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. Stockholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.34%. This is a positive change 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 794.47%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays cut their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. 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. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. 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 research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.67.

About Iron Mountain

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.