Corrado Advisors LLC Sells 6,836 Shares of Iron Mountain Incorporated (NYSE:IRM)

Corrado Advisors LLC lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 32.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,541 shares of the financial services provider’s stock after selling 6,836 shares during the period. Corrado Advisors LLC’s holdings in Iron Mountain were worth $1,528,000 as of its most recent filing with the SEC.

Several other institutional investors also recently 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 valued at $26,000 after buying an additional 251 shares during the period. Ashton Thomas Securities LLC bought a new position in Iron Mountain during the third quarter valued at about $31,000. Teachers Insurance & Annuity Association of America bought a new position in Iron Mountain during the third quarter valued at about $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 valued at $54,000 after buying an additional 152 shares during the period. 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 valued at $54,000 after buying an additional 263 shares during the period. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 0.7 %

Shares of Iron Mountain stock opened at $93.04 on Thursday. The company’s 50-day moving average price is $102.55 and its 200-day moving average price is $112.03. The company has a market cap of $27.33 billion, a price-to-earnings ratio of 152.52, a PEG ratio of 5.15 and a beta of 1.01. Iron Mountain Incorporated has a 12-month low of $73.45 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share 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 company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the prior year, the business earned $0.52 earnings per share. On average, sell-side 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 declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be given a dividend of $0.785 per share. 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%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the 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 in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William L. Meaney sold 15,872 shares of the firm’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 transaction of $1,793,377.28. The disclosure for this sale can be found here. Insiders have sold 162,391 shares of company stock worth $16,805,912 over the last ninety days. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IRM shares. JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Royal Bank of Canada upped their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Wells Fargo & Company dropped their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Barclays dropped their price objective 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 research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target 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.