Blue Trust Inc. Sells 1,739 Shares of Iron Mountain Incorporated (NYSE:IRM)

Blue Trust Inc. reduced its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 81.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 399 shares of the financial services provider’s stock after selling 1,739 shares during the period. Blue Trust Inc.’s holdings in Iron Mountain were worth $42,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in shares of Iron Mountain during the third quarter worth about $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in Iron Mountain during the 3rd quarter valued at approximately $36,000. Dunhill Financial LLC raised 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 purchasing an additional 152 shares during the last quarter. Quarry LP lifted its position in shares of Iron Mountain by 86.5% in the 3rd quarter. Quarry LP now owns 496 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 230 shares during the period. Finally, Oakworth Capital Inc. bought a new stake in shares of Iron Mountain in the 4th quarter valued at $55,000. 80.13% of the stock is owned by institutional investors.

Insider Activity

In other Iron Mountain news, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the sale, 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 162,391 shares of company stock worth $16,805,912 over the last three months. 2.10% of the stock is currently owned by insiders.

Iron Mountain Stock Performance

IRM stock opened at $93.04 on Thursday. The stock’s 50 day simple moving average is $102.55 and its 200 day simple moving average is $112.03. The company has a market cap of $27.33 billion, a P/E ratio of 152.52, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01. Iron Mountain Incorporated has a fifty-two week low of $73.45 and a fifty-two week 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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. Equities analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.37%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on IRM. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Wells Fargo & Company cut their target price 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 target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Finally, Barclays cut their price target 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 research 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.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $127.67.

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.