Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd reduced its holdings in Iron Mountain Incorporated (NYSE:IRM) by 63.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,571 shares of the financial services provider’s stock after selling 11,417 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Iron Mountain were worth $691,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of IRM. Key Financial Inc grew its holdings in Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC acquired a new stake in Iron Mountain in the fourth quarter valued at approximately $26,000. IMG Wealth Management Inc. purchased a new position in shares of Iron Mountain in the fourth quarter valued at approximately $26,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Iron Mountain in the third quarter valued at approximately $36,000. Finally, Parkworth Wealth Management Inc. purchased a new position in shares of Iron Mountain in the fourth quarter valued at approximately $53,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the sale, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. Insiders have sold 327,242 shares of company stock worth $31,530,305 over the last quarter. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $88.36 on Friday. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24. The company has a market cap of $25.95 billion, a price-to-earnings ratio of 144.84, a PEG ratio of 5.15 and a beta of 1.04. The business’s 50 day moving average price is $97.16 and its 200 day moving average price is $109.40.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the firm earned $0.52 EPS. On average, analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm 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 $0.785 dividend. The ex-dividend date is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.55%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is currently 514.75%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased 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. Barclays decreased their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday. Wells Fargo & Company decreased their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Finally, Royal Bank of Canada lifted 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. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Iron Mountain presently has a consensus rating of “Moderate Buy” and an average target price of $125.67.

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.