Iron Mountain Incorporated (NYSE:IRM) Stock Position Reduced by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in Iron Mountain Incorporated (NYSE:IRM) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,154 shares of the financial services provider’s stock after selling 966 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Iron Mountain were worth $3,695,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in IRM. Key Financial Inc lifted its stake in Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 251 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain in the third quarter valued at approximately $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in Iron Mountain in the third quarter valued at approximately $36,000. Dunhill Financial LLC lifted its stake in Iron Mountain by 50.5% in the third quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 152 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Iron Mountain by 104.8% in the fourth quarter. Venturi Wealth Management LLC now owns 514 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 263 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Trading Up 0.2 %

Shares of IRM stock opened at $88.38 on Thursday. Iron Mountain Incorporated has a 1 year low of $73.53 and a 1 year high of $130.24. The firm’s fifty day simple moving average is $101.46 and its 200 day simple moving average is $111.56. The firm has a market capitalization of $25.96 billion, a P/E ratio of 144.88, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last announced its earnings results 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). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the firm posted $0.52 EPS. Equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm 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 $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.55%. The ex-dividend date is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s payout ratio is 514.75%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the business’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 sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 15,872 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. Insiders have sold 343,114 shares of company stock valued at $33,323,682 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. 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. JPMorgan Chase & Co. reduced 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 note on Tuesday, February 18th. Royal Bank of Canada boosted 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. Finally, BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Iron Mountain presently has an average rating of “Buy” and a consensus price target of $127.67.

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.