Sequoia Financial Advisors LLC Raises Holdings in Iron Mountain Incorporated (NYSE:IRM)

Sequoia Financial Advisors LLC boosted its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 8.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,293 shares of the financial services provider’s stock after buying an additional 647 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Iron Mountain were worth $872,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IRM. Key Financial Inc grew its holdings in Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 251 shares during the last quarter. Halbert Hargrove Global Advisors LLC purchased a new position in Iron Mountain in the fourth quarter worth $26,000. Teachers Insurance & Annuity Association of America purchased a new position in Iron Mountain in the third quarter worth $36,000. Dunhill Financial LLC grew its holdings in Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 152 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Iron Mountain by 104.8% in the fourth quarter. Venturi Wealth Management LLC now owns 514 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 263 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 other Iron Mountain 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 completion of the transaction, the chief accounting officer now owns 288 shares of the company’s stock, valued at approximately $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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. Insiders sold 327,242 shares of company stock worth $31,530,305 over the last three months. Company insiders own 2.10% of the company’s stock.

Iron Mountain Price Performance

NYSE IRM opened at $86.68 on Monday. The company has a market capitalization of $25.46 billion, a PE ratio of 142.09, a P/E/G ratio of 5.15 and a beta of 1.04. The company has a fifty day moving average of $98.28 and a 200 day moving average of $110.03. 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned $0.52 earnings per share. Research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors 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 an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.62%. Iron Mountain’s payout ratio is currently 514.75%.

Wall Street Analyst Weigh In

Several research firms have issued reports on IRM. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Friday. Royal Bank of Canada lifted their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Barclays lowered their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company lowered their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and an average target price of $127.67.

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.