Aviva PLC Cuts Position in Iron Mountain Incorporated (NYSE:IRM)

Aviva PLC cut its position in Iron Mountain Incorporated (NYSE:IRM) by 1.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 429,473 shares of the financial services provider’s stock after selling 8,126 shares during the period. Aviva PLC’s holdings in Iron Mountain were worth $45,142,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Merit Financial Group LLC grew its position in Iron Mountain by 91.5% in the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after acquiring an additional 7,137 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Iron Mountain by 254.1% in the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after purchasing an additional 14,737 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in 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 buying an additional 5,511 shares during the period. Lord Abbett & CO. LLC acquired a new stake in Iron Mountain during the 3rd quarter worth approximately $24,122,000. Finally, Proficio Capital Partners LLC purchased a new position in Iron Mountain in the 4th quarter valued at approximately $102,000. 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 firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Daniel Borges sold 6,433 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 transaction of $597,239.72. Following the completion of the sale, the chief accounting officer now owns 288 shares of the company’s stock, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 318,973 shares of company stock valued at $29,370,872. 2.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

IRM has been the topic of a number of recent research reports. Barclays cut their price objective on 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 price target 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 downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday, March 31st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $125.67.

Iron Mountain Stock Performance

IRM opened at $77.31 on Friday. The business’s 50-day simple moving average is $92.35 and its 200-day simple moving average is $107.23. The company has a market cap of $22.71 billion, a P/E ratio of 126.74, a PEG ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the business posted $0.52 EPS. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were paid a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 4.06%. The ex-dividend date was Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is currently 514.75%.

Iron Mountain Company 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.