First Trust Advisors LP Cuts Stake in Iron Mountain Incorporated (NYSE:IRM)

First Trust Advisors LP reduced its holdings in shares of Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 39.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 182,696 shares of the financial services provider’s stock after selling 119,022 shares during the period. First Trust Advisors LP’s holdings in Iron Mountain were worth $8,033,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Allworth Financial LP grew its position in shares of Iron Mountain by 132.0% in the 3rd quarter. Allworth Financial LP now owns 775 shares of the financial services provider’s stock valued at $34,000 after buying an additional 441 shares during the last quarter. First Personal Financial Services acquired a new stake in Iron Mountain during the 3rd quarter worth $35,000. Cambridge Trust Co. acquired a new stake in Iron Mountain during the 2nd quarter worth $36,000. Wipfli Financial Advisors LLC acquired a new stake in Iron Mountain during the 3rd quarter worth $42,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in Iron Mountain by 440.1% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 767 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 625 shares during the period. 77.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $55.15, for a total transaction of $62,043.75. Following the transaction, the executive vice president now directly owns 46,907 shares of the company’s stock, valued at $2,586,921.05. The sale was disclosed in a filing with the SEC, which is available at this link. In other Iron Mountain news, CEO William L. Meaney sold 10,507 shares of the company’s stock in a transaction dated Thursday, January 12th. The shares were sold at an average price of $51.76, for a total value of $543,842.32. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at approximately $15,302,844. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah Marson sold 1,125 shares of the business’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $55.15, for a total value of $62,043.75. Following the sale, the executive vice president now owns 46,907 shares in the company, valued at approximately $2,586,921.05. The disclosure for this sale can be found here. Insiders have sold a total of 106,184 shares of company stock valued at $5,564,979 over the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

NYSE:IRM opened at $52.67 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 16.46. The firm has a 50-day moving average price of $52.73 and a two-hundred day moving average price of $51.46. Iron Mountain Incorporated has a twelve month low of $43.33 and a twelve month high of $58.61. The company has a market capitalization of $15.32 billion, a P/E ratio of 27.72, a price-to-earnings-growth ratio of 3.61 and a beta of 0.89.

Iron Mountain (NYSE:IRM – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The financial services provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.46). The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Iron Mountain had a return on equity of 79.49% and a net margin of 10.91%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. As a group, research analysts expect that Iron Mountain Incorporated will post 3.55 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th will be given a dividend of $0.6185 per share. This represents a $2.47 dividend on an annualized basis and a yield of 4.70%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Tuesday, March 14th. Iron Mountain’s payout ratio is 130.00%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on IRM shares. Exane BNP Paribas started coverage on shares of Iron Mountain in a research note on Wednesday, December 14th. They set an “outperform” rating for the company. BNP Paribas started coverage on shares of Iron Mountain in a research note on Wednesday, December 14th. They set an “outperform” rating and a $66.00 price target for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 target price on shares of Iron Mountain in a research note on Monday, March 6th. Finally, Evercore ISI reduced their target price on shares of Iron Mountain to $60.00 in a research note on Tuesday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Iron Mountain presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.80.

About Iron Mountain

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Iron Mountain, Inc engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business.