Richard W. Paul & Associates LLC Has $365,000 Position in Iron Mountain Incorporated (NYSE:IRM)

Richard W. Paul & Associates LLC cut its position in Iron Mountain Incorporated (NYSE:IRM) by 15.9% during the 4th quarter, HoldingsChannel reports. The firm owned 3,469 shares of the financial services provider’s stock after selling 656 shares during the quarter. Richard W. Paul & Associates LLC’s holdings in Iron Mountain were worth $365,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its holdings in Iron Mountain by 0.8% during the third quarter. Assenagon Asset Management S.A. now owns 11,372 shares of the financial services provider’s stock worth $1,351,000 after acquiring an additional 92 shares in the last quarter. TPG Advisors LLC acquired a new stake in shares of Iron Mountain during the third quarter worth about $232,000. Affinity Investment Advisors LLC bought a new position in shares of Iron Mountain during the 3rd quarter valued at about $239,000. Farther Finance Advisors LLC grew its position in shares of Iron Mountain by 367.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 9,707 shares of the financial services provider’s stock valued at $1,153,000 after purchasing an additional 7,632 shares during the period. Finally, Tower Wealth Partners Inc. bought a new stake in Iron Mountain during the 3rd quarter worth approximately $226,000. 80.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total transaction of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 15,872 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total value of $1,793,377.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 162,391 shares of company stock valued at $16,805,912. 2.10% of the stock is currently owned by corporate insiders.

Iron Mountain Price Performance

Iron Mountain stock opened at $93.15 on Friday. The company has a market cap of $27.36 billion, a price-to-earnings ratio of 152.70, a P/E/G ratio of 5.15 and a beta of 1.01. The firm has a 50-day moving average of $102.11 and a 200-day moving average of $111.78. Iron Mountain Incorporated has a one year low of $73.53 and a one year high of $130.24.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.70). The company 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 last year, the company posted $0.52 earnings per share. As a group, sell-side analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.37%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. Iron Mountain’s payout ratio is presently 514.75%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IRM. Barclays cut their price target on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada lifted their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. reduced their price objective on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company decreased their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating, six 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 company presently has an average rating of “Buy” and a consensus target price of $127.67.

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.