Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Principal Securities Inc.

Principal Securities Inc. decreased its stake in Iron Mountain Incorporated (NYSE:IRM) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,542 shares of the financial services provider’s stock after selling 138 shares during the period. Principal Securities Inc.’s holdings in Iron Mountain were worth $1,318,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning grew its holdings in shares of Iron Mountain by 2.2% in the 3rd quarter. Creative Planning now owns 98,905 shares of the financial services provider’s stock worth $11,753,000 after acquiring an additional 2,083 shares during the period. Vontobel Holding Ltd. purchased a new position in shares of Iron Mountain in the third quarter valued at $535,000. Blue Trust Inc. raised its stake in shares of Iron Mountain by 142.4% during the 3rd quarter. Blue Trust Inc. now owns 2,138 shares of the financial services provider’s stock worth $254,000 after buying an additional 1,256 shares during the last quarter. New Century Financial Group LLC acquired a new stake in Iron Mountain in the 3rd quarter valued at about $252,000. Finally, Raleigh Capital Management Inc. increased its holdings in Iron Mountain by 2.6% during the 3rd quarter. Raleigh Capital Management Inc. now owns 4,303 shares of the financial services provider’s stock valued at $511,000 after acquiring an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain 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 transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 162,391 shares of company stock valued at $16,805,912. 2.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

IRM has been the topic of several research reports. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research report on Wednesday, November 6th. StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a report on Tuesday, January 28th. Wells Fargo & Company reduced their price objective on 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 lifted their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Finally, Barclays reduced their target price on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $127.67.

Iron Mountain Trading Down 1.4 %

Iron Mountain stock opened at $94.04 on Wednesday. The stock has a fifty day moving average price of $104.71 and a 200 day moving average price of $112.66. Iron Mountain Incorporated has a 52 week low of $67.09 and a 52 week high of $130.24. The firm has a market capitalization of $27.60 billion, a P/E ratio of 261.22, a PEG ratio of 5.84 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 44,660.04% and a net margin of 1.77%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. As a group, equities analysts predict that Iron Mountain Incorporated will post 4.18 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. The ex-dividend date is Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.34%. Iron Mountain’s payout ratio is currently 794.47%.

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.