Amundi Sells 184,896 Shares of Iron Mountain Incorporated (NYSE:IRM)

Amundi trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 11.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,438,801 shares of the financial services provider’s stock after selling 184,896 shares during the quarter. Amundi’s holdings in Iron Mountain were worth $147,981,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of IRM. Key Financial Inc raised its position in shares of Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Iron Mountain during the fourth quarter worth approximately $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Iron Mountain during the third quarter worth approximately $31,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Iron Mountain during the third quarter worth approximately $36,000. Finally, Dunhill Financial LLC raised its position in shares of Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 152 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Trading Down 1.3 %

NYSE IRM opened at $83.26 on Tuesday. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24. The firm has a market capitalization of $24.46 billion, a P/E ratio of 136.48, a PEG ratio of 5.15 and a beta of 1.04. The business has a fifty day simple moving average of $99.84 and a 200 day simple moving average of $110.82.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the prior year, the business earned $0.52 earnings per share. As a group, sell-side 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. Stockholders 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 is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.77%. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Analyst Ratings Changes

IRM has been the topic of a number of research reports. Royal Bank of Canada upped their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company lowered 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 raised Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price target on 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 lowered their price target on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $127.67.

Insider Activity

In other news, CAO Daniel Borges sold 6,433 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares in the company, valued at approximately $26,737.92. This represents a 95.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 15,872 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. 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 ninety days. 2.10% of the stock is currently owned by insiders.

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.