Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.9% during the 4th quarter, HoldingsChannel reports. The firm owned 71,623 shares of the financial services provider’s stock after selling 3,691 shares during the period. Avantax Advisory Services Inc.’s holdings in Iron Mountain were worth $7,528,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IRM. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain during the 3rd quarter worth $31,000. Ashton Thomas Private Wealth LLC boosted its stake in Iron Mountain by 40.2% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,270 shares of the financial services provider’s stock worth $270,000 after purchasing an additional 651 shares during the last quarter. Savvy Advisors Inc. acquired a new stake in Iron Mountain during the 3rd quarter worth $209,000. MQS Management LLC acquired a new stake in Iron Mountain during the 3rd quarter worth $205,000. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Iron Mountain by 36.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider’s stock valued at $2,281,000 after acquiring an additional 5,086 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the sale, the chief executive officer now directly owns 237,402 shares in the company, valued at $21,681,924.66. This represents a 42.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares in the company, valued at $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on IRM. Wells Fargo & Company lowered their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada boosted their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Barclays lowered 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 report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Iron Mountain has an average rating of “Buy” and an average price target of $127.67.

Iron Mountain Trading Down 1.7 %

Shares of IRM opened at $84.96 on Friday. The firm has a market cap of $24.96 billion, a P/E ratio of 139.28, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 12-month low of $73.53 and a 12-month high of $130.24. The company’s 50-day moving average price is $99.06 and its 200 day moving average price is $110.45.

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 the consensus estimate of $1.20 by ($0.70). The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations 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 last year, the firm posted $0.52 earnings per share. Equities research analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.70%. Iron Mountain’s dividend payout ratio is 514.75%.

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.