Oppenheimer & Co. Inc. Sells 6,206 Shares of Iron Mountain Incorporated (NYSE:IRM)

Oppenheimer & Co. Inc. cut its holdings in Iron Mountain Incorporated (NYSE:IRM) by 32.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,986 shares of the financial services provider’s stock after selling 6,206 shares during the period. Oppenheimer & Co. Inc.’s holdings in Iron Mountain were worth $1,365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Iron Mountain by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock worth $978,479,000 after acquiring an additional 128,622 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Iron Mountain by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,386,315 shares of the financial services provider’s stock valued at $402,396,000 after buying an additional 141,675 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake 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 valued at $376,756,000 after buying an additional 2,672,821 shares during the period. Captrust Financial Advisors grew its stake in shares of Iron Mountain by 5.2% in the 3rd quarter. Captrust Financial Advisors now owns 951,552 shares of the financial services provider’s stock valued at $113,073,000 after buying an additional 47,327 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Iron Mountain by 1.1% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 910,723 shares of the financial services provider’s stock valued at $95,726,000 after buying an additional 10,160 shares during the period. 80.13% of the stock is owned by institutional investors.

Iron Mountain Stock Performance

IRM stock opened at $90.15 on Tuesday. The company has a market capitalization of $26.48 billion, a P/E ratio of 147.79, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24. The business has a 50-day simple moving average of $101.81 and a two-hundred day simple moving average of $111.70.

Iron Mountain (NYSE:IRM) last released 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). The company had revenue of $1.58 billion for the quarter, compared to analyst estimates 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 quarter last year, the firm posted $0.52 EPS. As a group, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced 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. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.48%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Analyst Upgrades and Downgrades

IRM has been the subject of several research reports. Wells Fargo & Company reduced their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Royal Bank of Canada raised their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. reduced their target price 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. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. One research 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, the stock currently has a consensus rating of “Buy” and a consensus target price of $127.67.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 162,391 shares of company stock valued at $16,805,912 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

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.