Atria Wealth Solutions Inc. Sells 7,309 Shares of Iron Mountain Incorporated (NYSE:IRM)

Atria Wealth Solutions Inc. reduced its holdings in Iron Mountain Incorporated (NYSE:IRM) by 15.0% during the 4th quarter, Holdings Channel reports. The fund owned 41,472 shares of the financial services provider’s stock after selling 7,309 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Iron Mountain were worth $4,382,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IRM. Ashton Thomas Securities LLC acquired a new position in Iron Mountain in the third quarter worth $31,000. Teachers Insurance & Annuity Association of America acquired a new position in Iron Mountain during the 3rd quarter worth about $36,000. Dunhill Financial LLC grew its holdings in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 152 shares during the last quarter. Venturi Wealth Management LLC increased its position in Iron Mountain by 104.8% in the 4th quarter. Venturi Wealth Management LLC now owns 514 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 263 shares in the last quarter. Finally, Oakworth Capital Inc. bought a new position in shares of Iron Mountain in the fourth quarter worth about $55,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IRM. Barclays decreased their price target 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. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada lifted their target price on 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 lowered Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $127.67.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the firm’s 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 in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 162,391 shares of company stock worth $16,805,912. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 0.6 %

NYSE IRM opened at $93.39 on Friday. Iron Mountain Incorporated has a 12 month low of $67.89 and a 12 month high of $130.24. The stock has a 50-day simple moving average of $103.91 and a 200 day simple moving average of $112.39. The company has a market capitalization of $27.43 billion, a PE ratio of 153.10, a P/E/G ratio of 5.19 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings data 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 firm 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 posted $0.52 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be paid a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a yield of 3.36%. The ex-dividend date is Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is presently 468.85%.

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.