Sheaff Brock Investment Advisors LLC Cuts Position in Iron Mountain Incorporated (NYSE:IRM)

Sheaff Brock Investment Advisors LLC decreased its position in Iron Mountain Incorporated (NYSE:IRM) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,159 shares of the financial services provider’s stock after selling 5,704 shares during the quarter. Iron Mountain accounts for 1.0% of Sheaff Brock Investment Advisors LLC’s portfolio, making the stock its 15th biggest holding. Sheaff Brock Investment Advisors LLC’s holdings in Iron Mountain were worth $11,789,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC raised its stake in Iron Mountain by 4,950.0% during the third quarter. Exchange Traded Concepts LLC now owns 3,636 shares of the financial services provider’s stock valued at $432,000 after purchasing an additional 3,564 shares in the last quarter. Creative Planning increased 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 buying an additional 2,083 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Iron Mountain during the 3rd quarter valued at about $535,000. Good Life Advisors LLC lifted its holdings in shares of Iron Mountain by 58.9% in the 3rd quarter. Good Life Advisors LLC now owns 3,646 shares of the financial services provider’s stock valued at $433,000 after acquiring an additional 1,352 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its position in Iron Mountain by 45.8% in the third quarter. Bleakley Financial Group LLC now owns 22,987 shares of the financial services provider’s stock worth $2,732,000 after acquiring an additional 7,221 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IRM shares. Wells Fargo & Company dropped their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada lifted their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, Barclays decreased their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and an average price target of $129.17.

Iron Mountain Price Performance

IRM stock opened at $95.34 on Friday. The company has a market capitalization of $27.98 billion, a PE ratio of 264.85, a P/E/G ratio of 5.84 and a beta of 1.01. Iron Mountain Incorporated has a 12 month low of $67.09 and a 12 month high of $130.24. The firm’s 50-day moving average is $105.45 and its 200 day moving average is $112.78.

Iron Mountain (NYSE:IRM) last issued its 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 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 period last year, the business posted $0.52 earnings per share. Sell-side analysts forecast that Iron Mountain Incorporated will post 4.18 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared 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 represents a $3.14 annualized dividend and a dividend yield of 3.29%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is currently 794.47%.

Insider Activity at Iron Mountain

In other news, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain 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 in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,131 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. 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 owned by corporate insiders.

About Iron Mountain

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.