Dana Investment Advisors Inc. Sells 6,812 Shares of Iron Mountain Incorporated (NYSE:IRM)

Dana Investment Advisors Inc. decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 4.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 164,304 shares of the financial services provider’s stock after selling 6,812 shares during the period. Dana Investment Advisors Inc.’s holdings in Iron Mountain were worth $17,270,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in shares of Iron Mountain by 2.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after purchasing an additional 1,446 shares during the last quarter. Merit Financial Group LLC increased its holdings in shares of Iron Mountain by 91.5% during the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after acquiring an additional 7,137 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Iron Mountain by 254.1% during the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after acquiring an additional 14,737 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after acquiring an additional 5,511 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Iron Mountain during the 3rd quarter worth approximately $24,122,000. Institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on IRM shares. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Barclays reduced their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company reduced their price target 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. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada upped their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Iron Mountain currently has an average rating of “Buy” and a consensus price target of $127.67.

Iron Mountain Stock Up 0.2 %

Shares of IRM stock opened at $88.38 on Thursday. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24. The company has a market cap of $25.96 billion, a P/E ratio of 144.88, a P/E/G ratio of 5.15 and a beta of 1.04. The business has a fifty day simple moving average of $101.46 and a 200 day simple moving average of $111.56.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share 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 business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. As a group, equities research analysts anticipate 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 issued a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is presently 514.75%.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the company’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 completion of the transaction, the chief executive officer now owns 237,402 shares of the company’s stock, valued at $21,681,924.66. This represents a 42.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Daniel Borges sold 6,433 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 343,114 shares of company stock valued at $33,323,682 in the last 90 days. Corporate insiders own 2.10% of the company’s stock.

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.