Sanctuary Advisors LLC Cuts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Sanctuary Advisors LLC cut its holdings in Iron Mountain Incorporated (NYSE:IRM) by 6.0% in the fourth quarter, HoldingsChannel reports. The firm owned 121,255 shares of the financial services provider’s stock after selling 7,779 shares during the quarter. Sanctuary Advisors LLC’s holdings in Iron Mountain were worth $12,368,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IRM. Creative Planning grew its holdings in shares of Iron Mountain by 2.2% in the third quarter. Creative Planning now owns 98,905 shares of the financial services provider’s stock valued at $11,753,000 after purchasing an additional 2,083 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in Iron Mountain in the third quarter worth $535,000. Blue Trust Inc. lifted its position in Iron Mountain by 142.4% in the third quarter. Blue Trust Inc. now owns 2,138 shares of the financial services provider’s stock worth $254,000 after buying an additional 1,256 shares during the last quarter. New Century Financial Group LLC bought a new stake in Iron Mountain in the third quarter worth $252,000. Finally, Raleigh Capital Management Inc. lifted its position in Iron Mountain by 2.6% in the third quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock worth $511,000 after buying an additional 107 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 15,872 shares of Iron Mountain stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 162,391 shares of company stock worth $16,805,912. Company insiders own 2.10% of the company’s stock.

Iron Mountain Trading Down 1.4 %

Shares of Iron Mountain stock opened at $94.04 on Wednesday. The firm has a market cap of $27.60 billion, a P/E ratio of 261.22, a P/E/G ratio of 5.84 and a beta of 1.01. Iron Mountain Incorporated has a 12 month low of $67.09 and a 12 month high of $130.24. The stock’s fifty day moving average price is $104.71 and its 200-day moving average price is $112.66.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a net margin of 1.77% and a negative return on equity of 44,660.04%. During the same quarter in the prior year, the business posted $0.52 EPS. Analysts forecast that Iron Mountain Incorporated will post 4.18 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.34%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is currently 794.47%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IRM. 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. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. 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. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada lifted 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. One analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.67.

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.