Moors & Cabot Inc. Sells 1,726 Shares of Iron Mountain Incorporated (NYSE:IRM)

Moors & Cabot Inc. trimmed its holdings in Iron Mountain Incorporated (NYSE:IRM) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,035 shares of the financial services provider’s stock after selling 1,726 shares during the quarter. Moors & Cabot Inc.’s holdings in Iron Mountain were worth $6,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in shares of Iron Mountain by 2.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after acquiring an additional 1,446 shares in the last quarter. Merit Financial Group LLC increased its stake in Iron Mountain by 91.5% during the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock valued at $1,570,000 after purchasing an additional 7,137 shares in the last quarter. Tidal Investments LLC increased its stake in Iron Mountain by 254.1% during the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after purchasing an additional 14,737 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock valued at $961,000 after purchasing an additional 5,511 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in Iron Mountain during the 3rd quarter valued at about $24,122,000. 80.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IRM. Barclays reduced their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Royal Bank of Canada raised their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company dropped their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. 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 company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $127.67.

Iron Mountain Trading Up 1.6 %

IRM opened at $84.70 on Wednesday. The company has a market cap of $24.88 billion, a price-to-earnings ratio of 138.86, a PEG ratio of 5.15 and a beta of 1.04. The company’s 50 day moving average is $99.43 and its 200 day moving average is $110.61. 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 data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period in the previous year, the business posted $0.52 EPS. As a group, analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal 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 issued a dividend of $0.785 per share. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.71%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is currently 514.75%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 288 shares of the company’s stock, valued at $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of Iron Mountain stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. This represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 327,242 shares of company stock valued at $31,530,305 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

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.