Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd trimmed its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 63.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,571 shares of the financial services provider’s stock after selling 11,417 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Iron Mountain were worth $691,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IMG Wealth Management Inc. acquired a new position in Iron Mountain during the 4th quarter worth $26,000. Halbert Hargrove Global Advisors LLC acquired a new position in Iron Mountain during the 4th quarter worth $26,000. Key Financial Inc grew its stake 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 in the last quarter. Teachers Insurance & Annuity Association of America acquired a new position in Iron Mountain during the 3rd quarter worth $36,000. Finally, Dunhill Financial LLC grew its stake in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 152 shares in the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

Iron Mountain stock opened at $88.36 on Friday. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The company has a market capitalization of $25.95 billion, a P/E ratio of 144.84, a PEG ratio of 5.15 and a beta of 1.04. The stock has a 50-day simple moving average of $97.16 and a 200-day simple moving average of $109.40.

Iron Mountain (NYSE:IRM) last posted its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $0.52 earnings per share. As a group, analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.785 per share. 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. This represents a $3.14 annualized dividend and a yield of 3.55%. Iron Mountain’s dividend payout ratio is currently 514.75%.

Wall Street Analyst Weigh In

IRM has been the subject of several analyst reports. Royal Bank of Canada upped their price objective on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Barclays lowered their price objective on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday. JPMorgan Chase & Co. lowered 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. StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Finally, Wells Fargo & Company lowered their price objective on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $125.67.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the completion of the sale, the chief executive officer now directly owns 237,402 shares of the company’s stock, valued at $21,681,924.66. This represents a 42.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Daniel Borges sold 6,433 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the sale, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at approximately $26,737.92. This represents a 95.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 327,242 shares of company stock valued at $31,530,305 in the last ninety days. Insiders own 2.10% of the company’s stock.

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.