Oppenheimer Asset Management Inc. Trims Stock Holdings in Iron Mountain Incorporated (NYSE:IRM)

Oppenheimer Asset Management Inc. cut its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 23.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 14,373 shares of the financial services provider’s stock after selling 4,352 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Iron Mountain were worth $1,511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of IRM. 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 last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Iron Mountain during the third quarter worth about $31,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Iron Mountain during the third quarter worth about $36,000. Dunhill Financial LLC increased its position in Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 152 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in Iron Mountain by 104.8% during the 4th quarter. Venturi Wealth Management LLC now owns 514 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 263 shares during the period. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Trading Down 3.2 %

Iron Mountain stock opened at $90.15 on Tuesday. The stock has a fifty day moving average price of $101.81 and a 200 day moving average price of $111.70. Iron Mountain Incorporated has a 52 week low of $73.53 and a 52 week high of $130.24. The firm has a market capitalization of $26.48 billion, a P/E ratio of 147.79, a PEG ratio of 5.15 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last issued its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. As a group, equities analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. 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. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company cut their price target on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, Barclays dropped their target price on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Iron Mountain currently has an average rating of “Buy” and an average target price of $127.67.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 15,872 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $112.99, for a total value of $1,793,377.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mithu Bhargava sold 8,263 shares of the company’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 value of $863,400.87. Following the completion of the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. This represents a 38.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,391 shares of company stock worth $16,805,912. 2.10% of the stock is currently owned by corporate 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.