Ausdal Financial Partners Inc. Sells 145 Shares of Iron Mountain Incorporated (NYSE:IRM)

Ausdal Financial Partners Inc. cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,349 shares of the financial services provider’s stock after selling 145 shares during the period. Ausdal Financial Partners Inc.’s holdings in Iron Mountain were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of IRM. Cerity Partners LLC lifted its stake in Iron Mountain by 47.4% in the third quarter. Cerity Partners LLC now owns 29,362 shares of the financial services provider’s stock valued at $3,489,000 after buying an additional 9,442 shares during the period. Larson Financial Group LLC raised its position in shares of Iron Mountain by 29.8% in the 3rd quarter. Larson Financial Group LLC now owns 557 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 128 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Iron Mountain during the 3rd quarter worth approximately $271,000. Loomis Sayles & Co. L P grew its holdings in Iron Mountain by 3,253.8% during the third quarter. Loomis Sayles & Co. L P now owns 872 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 846 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Iron Mountain by 2.0% in the third quarter. The Manufacturers Life Insurance Company now owns 209,648 shares of the financial services provider’s stock valued at $24,912,000 after purchasing an additional 4,150 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IRM. JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Barclays reduced their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Wells Fargo & Company lowered their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday, March 22nd. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $125.67.

Iron Mountain Price Performance

IRM stock opened at $85.07 on Friday. The stock has a market capitalization of $24.99 billion, a P/E ratio of 139.46, a P/E/G ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The business has a 50-day moving average of $94.97 and a 200-day moving average of $108.39.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the prior year, the business earned $0.52 earnings per share. Equities analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders 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 boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.69%. Iron Mountain’s payout ratio is 514.75%.

Insider Transactions at Iron Mountain

In related news, EVP Mithu Bhargava sold 1,738 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 172,552 shares of the firm’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 completion of the transaction, the chief executive officer now owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. This represents a 42.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 318,979 shares of company stock worth $30,666,904 in the last three months. Insiders own 2.10% of the company’s stock.

About Iron Mountain

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.