Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 4.2% during the 4th quarter, HoldingsChannel reports. The firm owned 7,912,109 shares of the financial services provider’s stock after selling 345,856 shares during the period. Geode Capital Management LLC’s holdings in Iron Mountain were worth $832,881,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Geller Advisors LLC grew its position in shares of Iron Mountain by 2.9% in the third quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock valued at $403,000 after purchasing an additional 96 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Iron Mountain by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock valued at $2,644,000 after buying an additional 100 shares in the last quarter. Premier Path Wealth Partners LLC raised its holdings in shares of Iron Mountain by 3.9% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 106 shares during the period. Mather Group LLC. boosted its position in shares of Iron Mountain by 4.6% during the 4th quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider’s stock valued at $271,000 after acquiring an additional 113 shares during the last quarter. Finally, One Charles Private Wealth Services LLC grew its holdings in shares of Iron Mountain by 1.0% in the fourth quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider’s stock valued at $1,236,000 after purchasing an additional 119 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

NYSE IRM opened at $88.16 on Thursday. The company has a market cap of $25.90 billion, a P/E ratio of 144.52, a P/E/G ratio of 5.15 and a beta of 1.04. The stock has a 50-day moving average of $93.59 and a two-hundred day moving average of $107.75. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24.

Iron Mountain (NYSE:IRM) last announced 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 business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the previous year, the company earned $0.52 earnings per share. On average, analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a $0.785 dividend. The ex-dividend date of this dividend is Monday, March 17th. 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 3.56%. Iron Mountain’s dividend payout ratio (DPR) is 514.75%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total value of $15,759,174.16. Following the completion of the transaction, the chief executive officer now owns 237,402 shares in the company, valued at $21,681,924.66. The trade was a 42.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders sold 249,848 shares of company stock valued at $23,418,519 in the last three months. 2.10% of the stock is 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.