Iron Mountain Incorporated (NYSE:IRM) Stake Trimmed by Princeton Capital Management LLC

Princeton Capital Management LLC cut its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 6.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,257 shares of the financial services provider’s stock after selling 685 shares during the quarter. Princeton Capital Management LLC’s holdings in Iron Mountain were worth $1,078,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IMG Wealth Management Inc. purchased a new stake in shares of Iron Mountain in the 4th quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in Iron Mountain during the 4th quarter worth approximately $26,000. Key Financial Inc raised its stake in Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 251 shares during the period. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Iron Mountain in the third quarter valued at $36,000. Finally, Dunhill Financial LLC boosted its position in shares of Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after buying an additional 152 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IRM. Royal Bank of Canada increased their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Wells Fargo & Company reduced their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Barclays decreased their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. JPMorgan Chase & Co. dropped their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Finally, StockNews.com raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Saturday. One 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $125.67.

Insider Activity

In other news, CEO William L. Meaney sold 172,552 shares of the business’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 sale, the chief executive officer now directly owns 237,402 shares in the company, valued at approximately $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares in the company, valued at $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 318,979 shares of company stock valued at $30,666,904. Insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

Shares of IRM opened at $90.14 on Tuesday. The firm has a market cap of $26.48 billion, a PE ratio of 147.77, a PEG ratio of 5.15 and a beta of 1.04. The firm’s 50 day moving average price is $96.65 and its 200 day moving average price is $109.03. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24.

Iron Mountain (NYSE:IRM) last released its quarterly 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). The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $0.52 EPS. On average, sell-side analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal 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 paid a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is 514.75%.

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.