Iron Mountain Incorporated (NYSE:IRM) Shares Sold by National Bank of Canada FI

National Bank of Canada FI reduced its position in Iron Mountain Incorporated (NYSE:IRM) by 10.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,618 shares of the financial services provider’s stock after selling 17,074 shares during the quarter. National Bank of Canada FI’s holdings in Iron Mountain were worth $15,937,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of IRM. Key Financial Inc boosted 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 worth $26,000 after purchasing an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Iron Mountain in the fourth quarter valued at about $26,000. IMG Wealth Management Inc. acquired a new stake in shares of Iron Mountain during the fourth quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Iron Mountain by 46.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider’s stock worth $51,000 after buying an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. acquired a new position in Iron Mountain in the 4th quarter valued at about $53,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $86.11, for a total transaction of $5,952,353.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mithu Bhargava sold 1,738 shares of the 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 completion of the sale, the executive vice president now directly owns 13,054 shares in the company, valued at approximately $1,211,933.36. The trade was a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 318,973 shares of company stock worth $29,370,872. 2.10% of the stock is owned by corporate insiders.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $77.31 on Friday. The company’s fifty day moving average is $92.35 and its two-hundred day moving average is $107.29. The firm has a market capitalization of $22.71 billion, a P/E ratio of 126.74, a PEG ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24.

Iron Mountain (NYSE:IRM) last issued its 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). 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 analyst estimates of $1.60 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. On average, sell-side analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were issued a dividend of $0.785 per share. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 4.06%. Iron Mountain’s payout ratio is currently 514.75%.

Analyst Ratings Changes

IRM has been the subject of a number of recent research reports. Barclays decreased their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a report on Monday, March 31st. Wells Fargo & Company dropped their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced 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 note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Iron Mountain presently has a consensus rating of “Moderate Buy” and an average price target of $125.67.

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.