Coastline Trust Co Sells 3,335 Shares of Iron Mountain Incorporated (NYSE:IRM)

Coastline Trust Co trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 64.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,812 shares of the financial services provider's stock after selling 3,335 shares during the period. Coastline Trust Co's holdings in Iron Mountain were worth $190,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Merit Financial Group LLC grew its position in Iron Mountain by 91.5% in the 4th quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider's stock worth $1,570,000 after purchasing an additional 7,137 shares during the last quarter. Tidal Investments LLC grew its position in Iron Mountain by 254.1% during the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider's stock worth $2,440,000 after buying an additional 14,737 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Iron Mountain by 151.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider's stock valued at $961,000 after acquiring an additional 5,511 shares during the period. Proficio Capital Partners LLC acquired a new position in Iron Mountain in the 4th quarter valued at approximately $102,000. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Iron Mountain in the 3rd quarter worth approximately $24,122,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Shares of NYSE IRM traded up $2.75 during mid-day trading on Friday, hitting $88.07. 823,103 shares of the stock were exchanged, compared to its average volume of 1,824,689. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The stock's fifty day simple moving average is $86.20 and its two-hundred day simple moving average is $103.49. The company has a market cap of $25.98 billion, a P/E ratio of 144.11, a PEG ratio of 5.15 and a beta of 0.97.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same period in the prior year, the business earned $0.52 earnings per share. As a group, equities research analysts predict that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were given a dividend of $0.785 per share. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date was Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.57%. Iron Mountain's dividend payout ratio is 514.75%.

Analysts Set New Price Targets

A number of research analysts recently commented on IRM shares. Wells Fargo & Company cut their target price on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Truist Financial assumed coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective for the company. Barclays lowered their target price on shares of Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. JPMorgan Chase & Co. cut their price target 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. Finally, StockNews.com upgraded Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Iron Mountain has an average rating of "Buy" and an average target price of $121.29.

Insiders Place Their Bets

In other news, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now directly owns 13,054 shares of the company's stock, valued at $1,211,933.36. This represents a 11.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was 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 have sold a total of 318,973 shares of company stock valued at $29,370,872 in the last 90 days. 2.10% of the stock is currently owned by insiders.

Iron Mountain Company 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.