First National Trust Co Sells 5,208 Shares of Iron Mountain Incorporated (NYSE:IRM)

First National Trust Co cut its stake in Iron Mountain Incorporated (NYSE:IRM) by 4.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,256 shares of the financial services provider’s stock after selling 5,208 shares during the quarter. First National Trust Co’s holdings in Iron Mountain were worth $7,436,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of IRM. Manchester Capital Management LLC lifted its holdings 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 worth $25,000 after buying an additional 419 shares during the period. Blue Trust Inc. boosted its position 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 valued at $25,000 after purchasing an additional 242 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Iron Mountain in the fourth quarter worth $26,000. Hanson & Doremus Investment Management bought a new position in Iron Mountain in the third quarter worth $28,000. Finally, CVA Family Office LLC bought a new position in Iron Mountain in the fourth quarter worth $32,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Stock Down 2.2 %

IRM traded down $1.68 during trading on Friday, hitting $75.32. 1,976,983 shares of the company’s stock traded hands, 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 PEG ratio of 4.51 and a beta of 0.96. The company’s 50 day simple moving average is $78.13 and its two-hundred day simple moving average is $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 current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 674.63.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data 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). Iron Mountain had a net margin of 5.45% and a return on equity of 282.93%. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the business earned $0.98 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. Analysts predict that Iron Mountain Incorporated will post 4.18 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.60 dividend on an annualized basis and a yield of 3.45%. Iron Mountain’s dividend payout ratio (DPR) is 393.95%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. TheStreet lowered shares of Iron Mountain from a “b” rating to a “c” rating in a research note on Thursday, February 22nd. Stifel Nicolaus raised their price objective on Iron Mountain from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Barclays boosted their target price on Iron Mountain from $79.00 to $91.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Finally, Wells Fargo & Company raised their price target on Iron Mountain from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.80.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $68.24, for a total transaction of $1,083,310.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at approximately $20,175,156. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, February 5th. The stock was sold at an average price of $68.24, for a total value of $1,083,310.00. Following the completion of the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $20,175,156. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Edward Baker-Greene sold 4,941 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $72.94, for a total value of $360,396.54. Following the completion of the transaction, the executive vice president now directly owns 3,365 shares in the company, valued at approximately $245,443.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,124 shares of company stock worth $12,563,361. 2.10% of the stock is owned by insiders.

Iron Mountain 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.