Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Jacobi Capital Management LLC

Jacobi Capital Management LLC cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,138 shares of the financial services provider’s stock after selling 162 shares during the period. Jacobi Capital Management LLC’s holdings in Iron Mountain were worth $330,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Aew Capital Management L P grew its position in shares of Iron Mountain by 55.6% during the 4th quarter. Aew Capital Management L P now owns 678,887 shares of the financial services provider’s stock valued at $71,358,000 after acquiring an additional 242,490 shares during the period. Williamson Legacy Group LLC acquired a new stake in Iron Mountain in the 4th quarter worth about $613,000. Fisher Asset Management LLC acquired a new stake in Iron Mountain in the 4th quarter worth about $587,000. SVB Wealth LLC acquired a new stake in Iron Mountain in the 4th quarter worth about $1,143,000. Finally, Flputnam Investment Management Co. boosted its holdings in Iron Mountain by 5.6% in the 4th quarter. Flputnam Investment Management Co. now owns 12,555 shares of the financial services provider’s stock worth $1,320,000 after buying an additional 669 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Price Performance

Shares of Iron Mountain stock opened at $93.15 on Monday. The stock has a market cap of $27.36 billion, a P/E ratio of 152.70, a P/E/G ratio of 5.15 and a beta of 1.01. The stock’s 50 day simple moving average is $102.11 and its 200-day simple moving average is $111.83. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24.

Iron Mountain (NYSE:IRM) last released 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 analyst estimates of $1.60 billion. During the same quarter in the prior year, the company posted $0.52 earnings per share. As a group, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS 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 issued a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.37%. Iron Mountain’s dividend payout ratio is currently 514.75%.

Insider Activity at Iron Mountain

In related news, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at $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. Over the last three months, insiders have sold 162,391 shares of company stock worth $16,805,912. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on IRM. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada lifted their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Barclays lowered their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Wells Fargo & Company lowered their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $127.67.

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.