Columbia Asset Management Sells 660 Shares of Iron Mountain Incorporated (NYSE:IRM)

Columbia Asset Management lowered its position in Iron Mountain Incorporated (NYSE:IRM) by 6.8% during the 4th quarter, HoldingsChannel reports. The firm owned 9,087 shares of the financial services provider’s stock after selling 660 shares during the period. Columbia Asset Management’s holdings in Iron Mountain were worth $955,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 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 worth $26,000 after buying an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Iron Mountain during the fourth quarter worth about $26,000. IMG Wealth Management Inc. bought a new position in shares of Iron Mountain in the fourth quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. raised its stake in Iron Mountain by 46.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new stake in Iron Mountain in the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 1.0 %

Shares of NYSE:IRM opened at $86.93 on Wednesday. The stock has a market capitalization of $25.53 billion, a P/E ratio of 142.50, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04. The stock’s 50-day moving average price is $94.03 and its 200-day moving average price is $107.88. Iron Mountain Incorporated has a 12-month low of $73.53 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last posted 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 company had revenue of $1.58 billion for 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. As a group, research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company 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. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.61%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is presently 514.75%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on IRM shares. Barclays decreased their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. Wells Fargo & Company lowered their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. StockNews.com lowered Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday. Finally, 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. 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, the company has a consensus rating of “Moderate Buy” and an average price target of $125.67.

Insiders Place Their Bets

In related news, CAO Daniel Borges sold 6,433 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the sale, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at $26,737.92. This trade represents a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mithu Bhargava sold 1,738 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. This represents a 11.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 318,979 shares of company stock valued at $30,666,904 in the last quarter. Insiders own 2.10% of the company’s stock.

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.