First National Trust Co Decreases Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

First National Trust Co trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 64,779 shares of the financial services provider’s stock after selling 3,858 shares during the quarter. First National Trust Co’s holdings in Iron Mountain were worth $6,809,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Key Financial Inc increased its holdings in shares of Iron Mountain by 25,100.0% during 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 in the last quarter. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Iron Mountain during the fourth quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Iron Mountain during the third quarter valued at about $31,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Iron Mountain during the third quarter valued at about $36,000. Finally, Parkworth Wealth Management Inc. acquired a new position in shares of Iron Mountain during the fourth quarter valued at about $53,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IRM. JPMorgan Chase & Co. cut their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Wells Fargo & Company cut their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Royal Bank of Canada increased their price target on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Barclays cut their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $127.67.

Iron Mountain Price Performance

Iron Mountain stock opened at $84.96 on Friday. Iron Mountain Incorporated has a 12 month low of $73.53 and a 12 month high of $130.24. The business has a 50 day simple moving average of $99.06 and a 200-day simple moving average of $110.45. The stock has a market capitalization of $24.96 billion, a PE ratio of 139.28, a price-to-earnings-growth ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data 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). 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 during the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the company posted $0.52 EPS. As a group, equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current 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 paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.70%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio (DPR) is presently 514.75%.

Insiders Place Their Bets

In other news, CAO Daniel Borges sold 6,433 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $597,239.72. Following the transaction, the chief accounting officer now directly owns 288 shares in the company, valued at $26,737.92. This trade represents a 95.71 % decrease in their position. The transaction 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 dated Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the transaction, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 327,242 shares of company stock valued at $31,530,305. 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.