Gulf International Bank UK Ltd Sells 246 Shares of Iron Mountain Incorporated (NYSE:IRM)

Gulf International Bank UK Ltd reduced its stake in Iron Mountain Incorporated (NYSE:IRM) by 1.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 22,829 shares of the financial services provider’s stock after selling 246 shares during the period. Gulf International Bank UK Ltd’s holdings in Iron Mountain were worth $2,399,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IRM. OneDigital Investment Advisors LLC increased its stake in shares of Iron Mountain by 1.5% in the third quarter. OneDigital Investment Advisors LLC now owns 5,986 shares of the financial services provider’s stock worth $711,000 after buying an additional 89 shares during the period. Assenagon Asset Management S.A. grew its holdings in Iron Mountain by 0.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after acquiring an additional 92 shares during the last quarter. Geller Advisors LLC increased its position in shares of Iron Mountain by 2.9% in the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock valued at $403,000 after acquiring an additional 96 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Iron Mountain by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock valued at $2,644,000 after acquiring an additional 100 shares during the period. Finally, Claro Advisors LLC raised its stake in shares of Iron Mountain by 0.6% during the third quarter. Claro Advisors LLC now owns 16,717 shares of the financial services provider’s stock valued at $1,986,000 after acquiring an additional 103 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,364,012.46. The trade was a 38.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 15,872 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were 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 in the last 90 days. Insiders own 2.10% of the company’s stock.

Iron Mountain Trading Up 1.6 %

IRM opened at $93.15 on Friday. The company has a market cap of $27.36 billion, a price-to-earnings ratio of 152.70, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01. The stock has a fifty day simple moving average of $102.11 and a two-hundred day simple moving average of $111.78. Iron Mountain Incorporated has a 12-month low of $73.53 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results 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). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the business earned $0.52 earnings per share. On average, analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a $0.785 dividend. 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 dividend yield of 3.37%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s payout ratio is currently 514.75%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada raised their price target on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Barclays reduced their price objective 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. dropped their target price 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. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $127.67.

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.