Creekmur Asset Management LLC Trims Holdings in Iron Mountain Incorporated (NYSE:IRM)

Creekmur Asset Management LLC decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 21.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,814 shares of the financial services provider’s stock after selling 3,671 shares during the period. Creekmur Asset Management LLC’s holdings in Iron Mountain were worth $1,452,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IRM. Geode Capital Management LLC increased its stake in Iron Mountain by 1.6% in the third quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock valued at $978,479,000 after purchasing an additional 128,622 shares during the last quarter. Wealthfront Advisers LLC lifted its holdings in shares of Iron Mountain by 9,843.3% during the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock worth $721,562,000 after acquiring an additional 6,795,792 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Iron Mountain by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider’s stock worth $365,656,000 after acquiring an additional 92,475 shares during the last quarter. Norges Bank acquired a new position in Iron Mountain during the fourth quarter worth approximately $348,249,000. Finally, TD Asset Management Inc. raised its stake in Iron Mountain by 125.4% during the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock worth $205,220,000 after purchasing an additional 1,086,308 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mithu Bhargava sold 1,738 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William L. Meaney sold 172,552 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 237,402 shares in the company, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 318,979 shares of company stock worth $30,666,904 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Iron Mountain Stock Up 1.0 %

Shares of NYSE IRM opened at $86.93 on Wednesday. The stock has a market capitalization of $25.53 billion, a P/E ratio of 142.50, a P/E/G ratio of 5.15 and a beta of 1.04. The firm’s 50-day moving average price is $94.03 and its two-hundred day moving average price is $107.88. Iron Mountain Incorporated has a 52-week low of $73.53 and a 52-week high of $130.24.

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 the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter last year, the company posted $0.52 EPS. As a group, equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a dividend of $0.785 per share. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.61%. Iron Mountain’s payout ratio is presently 514.75%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday. Wells Fargo & Company cut their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price objective 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, February 18th. Finally, Barclays cut their price target on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. One investment 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 company. According to MarketBeat.com, Iron Mountain has an average rating of “Moderate Buy” and an average target price of $125.67.

Iron Mountain 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.