HighTower Advisors LLC Cuts Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

HighTower Advisors LLC reduced its position in shares of Iron Mountain Incorporated (NYSE:IRM – Get Rating) by 7.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,507 shares of the financial services provider’s stock after selling 4,992 shares during the period. HighTower Advisors LLC’s holdings in Iron Mountain were worth $3,214,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. purchased a new position in Iron Mountain during the third quarter worth about $2,038,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in Iron Mountain by 440.1% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 767 shares of the financial services provider’s stock valued at $42,000 after buying an additional 625 shares in the last quarter. Accurate Wealth Management LLC purchased a new position in Iron Mountain in the fourth quarter valued at about $48,000. Spire Wealth Management increased its holdings in Iron Mountain by 104.1% in the fourth quarter. Spire Wealth Management now owns 1,531 shares of the financial services provider’s stock valued at $76,000 after buying an additional 781 shares in the last quarter. Finally, CENTRAL TRUST Co increased its holdings in Iron Mountain by 45.2% in the third quarter. CENTRAL TRUST Co now owns 1,605 shares of the financial services provider’s stock valued at $71,000 after buying an additional 500 shares in the last quarter. 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 on Friday, February 24th. The shares were sold at an average price of $51.77, for a total value of $58,241.25. Following the transaction, the executive vice president now owns 59,419 shares in the company, valued at approximately $3,076,121.63. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Iron Mountain news, EVP Deborah Marson sold 1,125 shares of Iron Mountain stock in a transaction on Friday, February 24th. The shares were sold at an average price of $51.77, for a total value of $58,241.25. Following the transaction, the executive vice president now owns 59,419 shares in the company, valued at approximately $3,076,121.63. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William L. Meaney sold 62,904 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $52.78, for a total transaction of $3,320,073.12. Following the completion of the transaction, the chief executive officer now directly owns 376,320 shares in the company, valued at approximately $19,862,169.60. The disclosure for this sale can be found here. Insiders have sold a total of 98,552 shares of company stock worth $5,214,181 in the last quarter. 2.20% of the stock is owned by insiders.

Iron Mountain Stock Up 0.3 %

Shares of NYSE IRM opened at $55.36 on Monday. Iron Mountain Incorporated has a 1 year low of $43.33 and a 1 year high of $57.21. The firm’s 50 day moving average price is $53.34 and its 200 day moving average price is $52.82. The firm has a market cap of $16.14 billion, a P/E ratio of 27.96, a price-to-earnings-growth ratio of 3.65 and a beta of 0.91. The company has a debt-to-equity ratio of 19.91, a quick ratio of 0.80 and a current ratio of 0.80.

Iron Mountain (NYSE:IRM – Get Rating) last announced its earnings results on Thursday, February 23rd. The financial services provider reported $0.43 earnings per share (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 analyst estimates of $1.32 billion. Iron Mountain had a return on equity of 88.48% and a net margin of 11.20%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. As a group, sell-side analysts anticipate that Iron Mountain Incorporated will post 3.77 earnings per share for the current year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Thursday, June 15th will be issued a $0.6185 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 4.47%. Iron Mountain’s dividend payout ratio (DPR) is presently 124.75%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IRM. Barclays increased their price target on shares of Iron Mountain from $56.00 to $64.00 in a research report on Friday, May 5th. Royal Bank of Canada restated a “sector perform” rating and set a $58.00 target price on shares of Iron Mountain in a research report on Monday, March 6th. Finally, StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research report on Sunday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.00.

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.