Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 35.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,547,708 shares of the financial services provider’s stock after selling 845,920 shares during the quarter. Wellington Management Group LLP owned about 0.53% of Iron Mountain worth $162,680,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. IMG Wealth Management Inc. purchased a new position in shares of Iron Mountain in the fourth quarter worth $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Iron Mountain during the 4th quarter worth about $26,000. Key Financial Inc grew its stake in Iron Mountain by 25,100.0% during the 4th 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 during the last quarter. Dunhill Financial LLC increased its holdings in shares of Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 152 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Iron Mountain by 46.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 155 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Stock Up 1.5 %

NYSE:IRM opened at $88.16 on Thursday. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24. The stock’s 50-day moving average price is $93.59 and its 200-day moving average price is $107.75. The stock has a market capitalization of $25.90 billion, a PE ratio of 144.52, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data 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 business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the firm earned $0.52 earnings per share. Sell-side analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business 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 $0.785 dividend. This is a positive change 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 annualized dividend and a dividend yield of 3.56%. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company dropped their target price 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. JPMorgan Chase & Co. reduced 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. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Barclays cut 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. One 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 company. Based on data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and an average price target of $125.67.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 237,402 shares in the company, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,211,933.36. The trade was a 11.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,848 shares of company stock valued at $23,418,519 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

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.