Cookson Peirce & Co. Inc. Sells 4,963 Shares of Iron Mountain Incorporated (NYSE:IRM)

Cookson Peirce & Co. Inc. decreased its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 454,552 shares of the financial services provider’s stock after selling 4,963 shares during the period. Iron Mountain makes up about 2.2% of Cookson Peirce & Co. Inc.’s investment portfolio, making the stock its 13th largest position. Cookson Peirce & Co. Inc. owned 0.15% of Iron Mountain worth $47,778,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC increased its stake in Iron Mountain by 5.8% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 3,478 shares of the financial services provider’s stock worth $437,000 after buying an additional 191 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Iron Mountain during the third quarter worth $80,000. Van ECK Associates Corp boosted its position in Iron Mountain by 12.3% during the 3rd quarter. Van ECK Associates Corp now owns 50,421 shares of the financial services provider’s stock valued at $6,330,000 after acquiring an additional 5,534 shares in the last quarter. National Pension Service increased its holdings in shares of Iron Mountain by 15.4% in the 3rd quarter. National Pension Service now owns 459,478 shares of the financial services provider’s stock valued at $54,600,000 after acquiring an additional 61,187 shares during the period. Finally, Crescent Grove Advisors LLC raised its holdings in Iron Mountain by 4.7% in the third quarter. Crescent Grove Advisors LLC now owns 12,843 shares of the financial services provider’s stock worth $1,535,000 after purchasing an additional 571 shares in the last quarter. 80.13% of the stock is currently owned by institutional investors.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,872 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the 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 sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 343,114 shares of company stock worth $33,323,682. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

IRM has been the subject of several analyst reports. Barclays decreased their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Royal Bank of Canada upped their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company cut their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. dropped their target price on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. One equities research 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $127.67.

Iron Mountain Price Performance

Shares of NYSE:IRM opened at $88.28 on Wednesday. The business’s 50 day moving average price is $101.46 and its 200-day moving average price is $111.56. Iron Mountain Incorporated has a 1 year low of $73.53 and a 1 year high of $130.24. The firm has a market capitalization of $25.93 billion, a PE ratio of 144.72, a P/E/G ratio of 5.15 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last released its 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). The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same period last year, the business earned $0.52 earnings per share. As a group, 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. Shareholders of record on Monday, March 17th will be issued a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.56%. This is a positive change 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%.

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.