HighPoint Advisor Group LLC Sells 787 Shares of Iron Mountain Incorporated (NYSE:IRM)

HighPoint Advisor Group LLC lowered its stake in Iron Mountain Incorporated (NYSE:IRM) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,740 shares of the financial services provider’s stock after selling 787 shares during the period. HighPoint Advisor Group LLC’s holdings in Iron Mountain were worth $1,884,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Franklin Resources Inc. lifted its holdings in Iron Mountain by 3.1% in the 4th quarter. Franklin Resources Inc. now owns 124,916 shares of the financial services provider’s stock worth $13,130,000 after purchasing an additional 3,707 shares during the last quarter. B. Metzler seel. Sohn & Co. AG lifted its stake in shares of Iron Mountain by 7.2% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 24,698 shares of the financial services provider’s stock worth $2,594,000 after buying an additional 1,651 shares during the last quarter. Summit Financial LLC boosted its holdings in shares of Iron Mountain by 39.7% during the 4th quarter. Summit Financial LLC now owns 6,135 shares of the financial services provider’s stock worth $648,000 after buying an additional 1,744 shares during the period. O Shaughnessy Asset Management LLC grew its stake in Iron Mountain by 14.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 24,473 shares of the financial services provider’s stock valued at $2,572,000 after buying an additional 3,008 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in Iron Mountain in the 4th quarter worth $210,000. Institutional investors own 80.13% of the company’s stock.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the sale, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mithu Bhargava sold 1,738 shares of the 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 $161,355.92. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 318,979 shares of company stock valued at $30,666,904 over the last quarter. 2.10% of the stock is owned by company insiders.

Iron Mountain Trading Up 1.2 %

Shares of IRM stock opened at $86.14 on Tuesday. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24. The company has a market capitalization of $25.30 billion, a P/E ratio of 141.21, a P/E/G ratio of 5.15 and a beta of 1.04. The stock has a 50 day moving average of $94.51 and a two-hundred day moving average of $108.10.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. Sell-side analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.65%. The ex-dividend date is Monday, March 17th. Iron Mountain’s payout ratio is 514.75%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IRM. Wells Fargo & Company decreased their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. Barclays dropped their price target 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. Finally, StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday. One investment 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 company’s stock. According to data from MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and a consensus price target of $125.67.

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.