JPMorgan Chase & Co. Sells 451,004 Shares of Iron Mountain Incorporated (NYSE:IRM)

JPMorgan Chase & Co. lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 20.5% in the fourth quarter, Holdings Channel reports. The firm owned 1,750,066 shares of the financial services provider’s stock after selling 451,004 shares during the period. JPMorgan Chase & Co.’s holdings in Iron Mountain were worth $183,949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wealthfront Advisers LLC lifted its stake in shares of Iron Mountain by 9,843.3% in the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock worth $721,562,000 after buying an additional 6,795,792 shares during the last quarter. TD Asset Management Inc. lifted its position in Iron Mountain by 125.4% during the 4th quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock worth $205,220,000 after acquiring an additional 1,086,308 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Iron Mountain during the 4th quarter worth $55,271,000. Cbre Investment Management Listed Real Assets LLC boosted its holdings in Iron Mountain by 158.3% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 541,028 shares of the financial services provider’s stock valued at $56,867,000 after acquiring an additional 331,536 shares during the period. Finally, Aew Capital Management L P grew its position in shares of Iron Mountain by 55.6% in the fourth quarter. Aew Capital Management L P now owns 678,887 shares of the financial services provider’s stock valued at $71,358,000 after purchasing an additional 242,490 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Trading Up 1.2 %

Shares of NYSE IRM opened at $86.14 on Tuesday. The firm has a market capitalization of $25.30 billion, a price-to-earnings ratio of 141.21, a PEG ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24. The business has a fifty day simple moving average of $94.51 and a 200 day simple moving average of $108.10.

Iron Mountain (NYSE:IRM) last announced 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 analyst estimates 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 company posted $0.52 EPS. On average, research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be issued a $0.785 dividend. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s payout ratio is presently 514.75%.

Insider Buying and Selling

In other news, CEO William L. Meaney sold 69,125 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the firm’s 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 $161,355.92. Following the completion of the sale, the executive vice president now directly owns 13,054 shares of the company’s stock, 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 worth $30,666,904 in the last three months. Insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IRM. Wells Fargo & Company decreased their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. cut their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. StockNews.com downgraded shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Barclays cut their target price on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.67.

Iron Mountain Company 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.