Avantax Advisory Services Inc. Sells 3,691 Shares of Iron Mountain Incorporated (NYSE:IRM)

Avantax Advisory Services Inc. reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 4.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 71,623 shares of the financial services provider’s stock after selling 3,691 shares during the period. Avantax Advisory Services Inc.’s holdings in Iron Mountain were worth $7,528,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of IRM. Ashton Thomas Securities LLC purchased a new position in shares of Iron Mountain in the 3rd quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC raised its position in shares of Iron Mountain by 40.2% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,270 shares of the financial services provider’s stock valued at $270,000 after purchasing an additional 651 shares during the last quarter. Savvy Advisors Inc. purchased a new position in shares of Iron Mountain in the 3rd quarter valued at approximately $209,000. MQS Management LLC purchased a new position in shares of Iron Mountain in the 3rd quarter valued at approximately $205,000. Finally, Oppenheimer & Co. Inc. raised its position in shares of Iron Mountain by 36.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider’s stock valued at $2,281,000 after purchasing an additional 5,086 shares during the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Iron Mountain

In related news, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares of the company’s stock, valued at approximately $26,737.92. This trade represents a 95.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 69,131 shares of Iron Mountain stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $104.85, for a total transaction of $7,248,385.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 327,242 shares of company stock valued at $31,530,305. 2.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IRM. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Barclays reduced their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company reduced their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada raised their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain currently has an average rating of “Buy” and a consensus target price of $127.67.

Iron Mountain Price Performance

NYSE:IRM opened at $84.96 on Friday. The firm has a market cap of $24.96 billion, a price-to-earnings ratio of 139.28, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. The company has a 50 day moving average price of $99.06 and a 200-day moving average price of $110.45. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24.

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 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 2.95% and a negative return on equity of 401.83%. During the same period last year, the firm earned $0.52 earnings per share. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.70%. 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. Iron Mountain’s payout ratio is 514.75%.

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.