Sanctuary Advisors LLC Sells 7,779 Shares of Iron Mountain Incorporated (NYSE:IRM)

Sanctuary Advisors LLC lowered its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 6.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 121,255 shares of the financial services provider’s stock after selling 7,779 shares during the period. Sanctuary Advisors LLC’s holdings in Iron Mountain were worth $12,368,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Principal Financial Group Inc. lifted its stake in Iron Mountain by 17.9% during the 4th quarter. Principal Financial Group Inc. now owns 415,368 shares of the financial services provider’s stock valued at $43,659,000 after acquiring an additional 62,917 shares during the period. Csenge Advisory Group lifted its stake in Iron Mountain by 5.1% during the 4th quarter. Csenge Advisory Group now owns 11,874 shares of the financial services provider’s stock valued at $1,248,000 after acquiring an additional 574 shares during the period. Secured Retirement Advisors LLC lifted its stake in Iron Mountain by 6.5% during the 4th quarter. Secured Retirement Advisors LLC now owns 1,967 shares of the financial services provider’s stock valued at $207,000 after acquiring an additional 120 shares during the period. Allworth Financial LP lifted its stake in Iron Mountain by 1.9% during the 4th quarter. Allworth Financial LP now owns 64,350 shares of the financial services provider’s stock valued at $7,077,000 after acquiring an additional 1,209 shares during the period. Finally, Centerpoint Advisory Group bought a new position in Iron Mountain during the 4th quarter valued at about $272,000. Institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the 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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the 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 sale, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 162,391 shares of company stock valued at $16,805,912 in the last three months. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Trading Down 1.4 %

Iron Mountain stock opened at $94.04 on Wednesday. The firm has a 50 day moving average of $104.71 and a 200 day moving average of $112.66. The firm has a market capitalization of $27.60 billion, a price-to-earnings ratio of 261.22, a P/E/G ratio of 5.84 and a beta of 1.01. Iron Mountain Incorporated has a 12-month low of $67.09 and a 12-month high of $130.24.

Iron Mountain (NYSE:IRM) last released its 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). The firm 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 44,660.04% and a net margin of 1.77%. During the same period in the prior year, the company posted $0.52 earnings per share. On average, analysts predict that Iron Mountain Incorporated will post 4.18 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed 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. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is 794.47%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada increased their price objective on shares of 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 lowered 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. JPMorgan Chase & Co. lowered 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. Finally, StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $127.67.

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.