Whittier Trust Co. of Nevada Inc. Acquires 155 Shares of Iron Mountain Incorporated (NYSE:IRM)

Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 46.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 489 shares of the financial services provider’s stock after acquiring an additional 155 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Iron Mountain were worth $51,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of IRM. Key Financial Inc lifted its position in Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC bought a new position in shares of Iron Mountain in the fourth quarter worth about $26,000. IMG Wealth Management Inc. purchased a new position in shares of Iron Mountain during the 4th quarter valued at about $26,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Iron Mountain during the 3rd quarter valued at approximately $36,000. Finally, Parkworth Wealth Management Inc. purchased a new stake in Iron Mountain in the 4th quarter worth approximately $53,000. Institutional investors own 80.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on IRM shares. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Royal Bank of Canada raised their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Barclays dropped their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Finally, Wells Fargo & Company decreased 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. One 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 MarketBeat, Iron Mountain has an average rating of “Buy” and a consensus price target of $125.67.

Insider Buying and Selling

In other news, CAO Daniel Borges sold 6,433 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at $26,737.92. This trade represents a 95.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William L. Meaney sold 172,552 shares of the business’s stock in a transaction that occurred 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 directly owns 237,402 shares in the company, valued at approximately $21,681,924.66. This represents a 42.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 318,979 shares of company stock worth $30,666,904. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

NYSE IRM opened at $90.14 on Tuesday. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24. The business has a 50 day simple moving average of $96.65 and a two-hundred day simple moving average of $109.03. The stock has a market capitalization of $26.48 billion, a PE ratio of 147.77, a P/E/G ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last posted its earnings results 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). The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period last year, the business posted $0.52 earnings per share. On average, analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared 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 is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.48%. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

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.