Iron Mountain Incorporated (NYSE:IRM) Position Lessened by Vestcor Inc

Vestcor Inc decreased its stake in Iron Mountain Incorporated (NYSE:IRM) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,799 shares of the financial services provider’s stock after selling 426 shares during the period. Vestcor Inc’s holdings in Iron Mountain were worth $9,018,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in IRM. Key Financial Inc lifted its holdings in shares of Iron Mountain by 25,100.0% in the 4th 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 last quarter. Halbert Hargrove Global Advisors LLC bought a new stake in Iron Mountain during the 4th quarter valued at $26,000. Ashton Thomas Securities LLC bought a new stake in Iron Mountain during the 3rd quarter valued at $31,000. Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain during the 3rd quarter valued at $36,000. Finally, Parkworth Wealth Management Inc. bought a new stake in Iron Mountain during the 4th quarter valued at $53,000. Institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

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

Iron Mountain Stock Performance

IRM opened at $86.45 on Thursday. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24. The stock’s fifty day moving average is $99.06 and its 200-day moving average is $110.45. The company has a market capitalization of $25.39 billion, a PE ratio of 141.72, a P/E/G ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last issued its earnings results 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 company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter in the previous year, the firm earned $0.52 earnings per share. On average, equities research analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business 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 $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.63%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s payout ratio is presently 514.75%.

Analyst Ratings Changes

IRM has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Barclays cut their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Royal Bank of Canada lifted their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. dropped their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $127.67.

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.