Guggenheim Capital LLC Sells 72,271 Shares of Iron Mountain Incorporated (NYSE:IRM)

Guggenheim Capital LLC lowered its holdings in Iron Mountain Incorporated (NYSE:IRM) by 77.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,618 shares of the financial services provider’s stock after selling 72,271 shares during the quarter. Guggenheim Capital LLC’s holdings in Iron Mountain were worth $2,272,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC grew its stake in shares of Iron Mountain by 9,843.3% in the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock valued at $721,562,000 after purchasing an additional 6,795,792 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Iron Mountain by 2.7% during 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 in the last quarter. Norges Bank bought a new position in shares of Iron Mountain during the fourth quarter valued at $348,249,000. Invesco Ltd. boosted its stake in shares of Iron Mountain by 17.2% in the 4th quarter. Invesco Ltd. now owns 2,482,820 shares of the financial services provider’s stock valued at $260,969,000 after purchasing an additional 363,783 shares in the last quarter. Finally, TD Asset Management Inc. grew its holdings in shares of Iron Mountain by 125.4% in the 4th 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 last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Up 1.9 %

Shares of IRM stock opened at $84.21 on Friday. The firm has a market cap of $24.74 billion, a price-to-earnings ratio of 138.05, a PEG ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The stock has a 50-day moving average price of $87.29 and a 200 day moving average price of $104.34.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data 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 business had revenue of $1.58 billion during the quarter, compared to the consensus estimate 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 in the previous year, the business posted $0.52 earnings per share. Sell-side analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were paid a $0.785 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.73%. Iron Mountain’s dividend payout ratio is presently 514.75%.

Analysts Set New Price Targets

A number of research firms have commented on IRM. Barclays reduced their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Wells Fargo & Company reduced their target price on 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. dropped their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Truist Financial began coverage on Iron Mountain in a research note on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price objective on the stock. Finally, StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $121.29.

Insiders Place Their Bets

In related news, EVP Mithu Bhargava sold 1,738 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the sale, the executive vice president now owns 13,054 shares in the company, valued at $1,211,933.36. This represents a 11.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 69,125 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total value of $5,952,353.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 318,973 shares of company stock worth $29,370,872. Insiders own 2.10% of the company’s stock.

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.