King Luther Capital Management Corp Sells 170 Shares of Iron Mountain Incorporated (NYSE:IRM)

King Luther Capital Management Corp lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,041 shares of the financial services provider’s stock after selling 170 shares during the period. King Luther Capital Management Corp’s holdings in Iron Mountain were worth $1,791,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Halbert Hargrove Global Advisors LLC purchased a new stake in Iron Mountain in the fourth quarter worth $26,000. Key Financial Inc increased its holdings in Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 251 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in Iron Mountain in the 3rd quarter valued at about $31,000. Teachers Insurance & Annuity Association of America bought a new stake in Iron Mountain in the 3rd quarter valued at about $36,000. Finally, Dunhill Financial LLC lifted its holdings 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 purchasing an additional 152 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Performance

NYSE:IRM opened at $86.45 on Thursday. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The firm has a market cap of $25.39 billion, a PE ratio of 141.72, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. The business has a 50 day moving average price of $99.06 and a 200-day moving average price of $110.45.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results 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). The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period in the previous year, the company earned $0.52 EPS. Research analysts predict that Iron Mountain Incorporated will post 4.54 EPS 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 positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. This represents a $3.14 dividend on an annualized basis and a yield of 3.63%. Iron Mountain’s dividend payout ratio is presently 514.75%.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the transaction, the chief executive officer now directly owns 237,402 shares in the company, valued at approximately $21,681,924.66. This represents a 42.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares in the company, valued at $1,211,933.36. The trade was a 11.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 327,242 shares of company stock worth $31,530,305. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IRM. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Wells Fargo & Company reduced their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Barclays lowered their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Royal Bank of Canada lifted their target price on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. One investment 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $127.67.

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.