Natixis Advisors LLC Lowers Holdings in Iron Mountain Incorporated (NYSE:IRM)

Natixis Advisors LLC lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 0.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 200,514 shares of the financial services provider’s stock after selling 1,060 shares during the quarter. Natixis Advisors LLC’s holdings in Iron Mountain were worth $21,076,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain during the 4th quarter valued at about $26,000. Key Financial Inc lifted 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 acquiring an additional 251 shares during the period. Teachers Insurance & Annuity Association of America bought a new position in Iron Mountain during the 3rd quarter valued at about $36,000. Dunhill Financial LLC lifted its stake in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 152 shares during the period. Finally, Quarry LP lifted its stake in Iron Mountain by 86.5% during the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 230 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 2.9 %

Shares of NYSE:IRM opened at $89.13 on Tuesday. The firm’s 50 day moving average price is $98.00 and its 200-day moving average price is $109.87. The stock has a market capitalization of $26.18 billion, a PE ratio of 146.11, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.70). The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period in the prior year, the company posted $0.52 earnings per share. Analysts expect 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. Investors of record on Monday, March 17th will be issued a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.52%. 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 dividend payout ratio is currently 514.75%.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 172,552 shares of the 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 sale, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at approximately $21,681,924.66. This represents a 42.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 327,242 shares of company stock valued at $31,530,305. 2.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.