Oppenheimer & Co. Inc. Has $1.37 Million Position in Iron Mountain Incorporated (NYSE:IRM)

Oppenheimer & Co. Inc. lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 32.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,986 shares of the financial services provider’s stock after selling 6,206 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Iron Mountain were worth $1,365,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in IRM. Key Financial Inc grew its position in Iron Mountain by 25,100.0% during the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after buying an additional 251 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain during the third quarter worth approximately $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in Iron Mountain during the third quarter worth approximately $36,000. Dunhill Financial LLC grew its position in Iron Mountain by 50.5% during the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after buying an additional 152 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in Iron Mountain by 104.8% during the fourth quarter. Venturi Wealth Management LLC now owns 514 shares of the financial services provider’s stock worth $54,000 after buying an additional 263 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insider Buying and Selling

In related news, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’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 directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 162,391 shares of company stock valued at $16,805,912 in the last three months. Insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM opened at $90.15 on Tuesday. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24. The stock has a market capitalization of $26.48 billion, a price-to-earnings ratio of 147.79, a PEG ratio of 5.15 and a beta of 1.01. The stock has a fifty day moving average of $101.81 and a 200-day moving average of $111.70.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results 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 firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. As a group, equities analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business 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. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IRM. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Wells Fargo & Company reduced 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. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Royal Bank of Canada raised their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, Barclays reduced their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. One 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target 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.