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

Richard W. Paul & Associates LLC trimmed its position in Iron Mountain Incorporated (NYSE:IRM) by 15.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in shares of Iron Mountain by 2.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock worth $6,402,000 after acquiring an additional 1,446 shares during the period. Merit Financial Group LLC raised its position in Iron Mountain by 91.5% in the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after purchasing an additional 7,137 shares in the last quarter. Tidal Investments LLC lifted its stake in Iron Mountain by 254.1% during the third quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after purchasing an additional 14,737 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Iron Mountain by 151.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock valued at $961,000 after purchasing an additional 5,511 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Iron Mountain in the 3rd quarter valued at approximately $24,122,000. 80.13% of the stock is owned by institutional investors.

Iron Mountain Trading Up 1.6 %

IRM opened at $93.15 on Friday. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24. The stock has a market capitalization of $27.36 billion, a PE ratio of 152.70, a PEG ratio of 5.15 and a beta of 1.01. The firm has a 50-day moving average price of $102.11 and a two-hundred day moving average price of $111.78.

Iron Mountain (NYSE:IRM) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the business earned $0.52 EPS. On average, research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be issued a $0.785 dividend. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.14 annualized dividend and a yield of 3.37%. Iron Mountain’s dividend payout ratio (DPR) is currently 514.75%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on IRM. Wells Fargo & Company decreased their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. StockNews.com upgraded shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Finally, Barclays decreased their price objective 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. One 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 company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average 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.