Stifel Financial Corp Lowers Stake in Iron Mountain Incorporated (NYSE:IRM)

Stifel Financial Corp cut its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 269,834 shares of the financial services provider's stock after selling 10,127 shares during the quarter. Stifel Financial Corp owned about 0.09% of Iron Mountain worth $28,363,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IMG Wealth Management Inc. acquired a new stake in Iron Mountain during the 4th quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in Iron Mountain during the fourth quarter valued at $26,000. Key Financial Inc grew its position in Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after purchasing an additional 251 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock valued at $51,000 after buying an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. acquired a new position in shares of Iron Mountain in the 4th quarter valued at about $53,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total value of $5,952,353.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total transaction of $597,239.72. Following the sale, the chief accounting officer now owns 288 shares of the company's stock, valued at $26,737.92. This represents a 95.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 318,973 shares of company stock worth $29,370,872 in the last quarter. Company insiders own 2.10% of the company's stock.

Iron Mountain Trading Down 0.1 %

IRM stock traded down $0.10 during midday trading on Wednesday, reaching $88.17. The stock had a trading volume of 356,177 shares, compared to its average volume of 1,831,483. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The company has a market cap of $26.01 billion, a price-to-earnings ratio of 144.31, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. The company's fifty day simple moving average is $85.89 and its 200 day simple moving average is $102.72.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.70). The business had revenue of $1.58 billion during 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 quarter in the previous year, the company posted $0.52 EPS. Sell-side analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were paid a $0.785 dividend. The ex-dividend date was Monday, March 17th. This is an increase from Iron Mountain's previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.56%. Iron Mountain's dividend payout ratio (DPR) is 514.75%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on IRM shares. Barclays reduced their price target on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating for the company in a research report on Thursday, March 20th. Wells Fargo & Company lowered 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. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Truist Financial assumed coverage on shares of Iron Mountain in a research report on Tuesday, April 8th. They issued a "buy" rating and a $95.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their price target on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $121.29.

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.