Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 34.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,557 shares of the financial services provider’s stock after selling 2,978 shares during the period. Brown Brothers Harriman & Co.’s holdings in Iron Mountain were worth $584,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. DnB Asset Management AS raised its stake in Iron Mountain by 5.9% during the fourth quarter. DnB Asset Management AS now owns 52,585 shares of the financial services provider’s stock valued at $5,527,000 after buying an additional 2,919 shares in the last quarter. Level Four Advisory Services LLC lifted its stake in Iron Mountain by 1.4% during the fourth quarter. Level Four Advisory Services LLC now owns 10,339 shares of the financial services provider’s stock worth $1,087,000 after purchasing an additional 142 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in Iron Mountain by 12.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 8,920 shares of the financial services provider’s stock worth $938,000 after purchasing an additional 957 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Iron Mountain by 4.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 474,591 shares of the financial services provider’s stock valued at $49,884,000 after purchasing an additional 18,296 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its holdings in shares of Iron Mountain by 0.5% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 1,246,311 shares of the financial services provider’s stock worth $131,000,000 after purchasing an additional 5,705 shares during the period. Institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IRM shares. JPMorgan Chase & Co. lowered their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Saturday, March 22nd. Wells Fargo & Company cut their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, Barclays lowered their price objective on 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 investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $125.67.

Iron Mountain Price Performance

IRM opened at $85.07 on Monday. The stock’s 50 day moving average price is $94.97 and its 200 day moving average price is $108.31. The stock has a market cap of $24.99 billion, a P/E ratio of 139.46, a P/E/G ratio of 5.15 and a beta of 1.04. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). The business had revenue of $1.58 billion for 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 period last year, the business posted $0.52 earnings per share. Equities analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a $0.785 dividend. 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 dividend yield of 3.69%. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio is currently 514.75%.

Insider Activity

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

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.