New York Life Investment Management LLC Sells 30,581 Shares of Iron Mountain Incorporated (NYSE:IRM)

New York Life Investment Management LLC lessened its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 40.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,861 shares of the financial services provider's stock after selling 30,581 shares during the quarter. New York Life Investment Management LLC's holdings in Iron Mountain were worth $3,209,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Blue Trust Inc. grew its stake in shares of Iron Mountain by 201.7% during the fourth quarter. Blue Trust Inc. now owns 362 shares of the financial services provider's stock worth $25,000 after purchasing an additional 242 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Iron Mountain in the 4th quarter worth about $26,000. Manchester Capital Management LLC raised its stake in Iron Mountain by 6,983.3% in the third quarter. Manchester Capital Management LLC now owns 425 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 419 shares in the last quarter. CVA Family Office LLC acquired a new position in shares of Iron Mountain during the 4th quarter worth $32,000. Finally, Muzinich & Co. Inc. acquired a new stake in Iron Mountain in the third quarter valued at approximately $35,000. Institutional investors own 80.13% of the company's stock.

Analyst Ratings Changes

IRM has been the subject of several recent research reports. TheStreet downgraded Iron Mountain from a "b" rating to a "c" rating in a report on Thursday, February 22nd. Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $80.00 to $90.00 and gave the stock an "overweight" rating in a research note on Friday, March 15th. Barclays increased their price target on shares of Iron Mountain from $79.00 to $91.00 and gave the company an "overweight" rating in a report on Tuesday, March 5th. Finally, Stifel Nicolaus increased their price objective on shares of Iron Mountain from $65.00 to $76.00 and gave the stock a "buy" rating in a research note on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $73.80.

Iron Mountain Stock Performance

Shares of NYSE:IRM traded down $1.68 during trading on Friday, hitting $75.32. The stock had a trading volume of 1,976,983 shares, compared to its average volume of 1,240,763. The stock has a market capitalization of $22.08 billion, a price-to-earnings ratio of 114.12, a price-to-earnings-growth ratio of 4.51 and a beta of 0.96. The stock has a 50-day simple moving average of $78.13 and a two-hundred day simple moving average of $69.92. Iron Mountain Incorporated has a 12-month low of $52.81 and a 12-month high of $82.19. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.52 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.48). The firm had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.45 billion. Iron Mountain had a return on equity of 282.93% and a net margin of 5.45%. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, equities research analysts expect that Iron Mountain Incorporated will post 4.18 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be issued a dividend of $0.65 per share. The ex-dividend date is Monday, June 17th. This represents a $2.60 annualized dividend and a yield of 3.45%. Iron Mountain's dividend payout ratio is currently 393.95%.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 15,875 shares of the company's stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $76.68, for a total value of $1,217,295.00. Following the sale, the chief executive officer now owns 295,650 shares of the company's stock, valued at approximately $22,670,442. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm's stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $76.68, for a total value of $1,217,295.00. Following the transaction, the chief executive officer now directly owns 295,650 shares of the company's stock, valued at $22,670,442. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Kidd sold 4,458 shares of Iron Mountain stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $80.21, for a total value of $357,576.18. Following the sale, the executive vice president now owns 62,938 shares in the company, valued at $5,048,256.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 162,124 shares of company stock valued at $12,563,361. 2.10% of the stock is owned by company insiders.

About Iron Mountain

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.