Alliancebernstein L.P. Trims Stock Position in Iron Mountain Incorporated (NYSE:IRM)

Alliancebernstein L.P. lessened its stake in Iron Mountain Incorporated (NYSE:IRM) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 555,832 shares of the financial services provider’s stock after selling 53,400 shares during the period. Alliancebernstein L.P. owned 0.19% of Iron Mountain worth $58,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Geller Advisors LLC grew its stake in Iron Mountain by 2.9% during the 3rd quarter. Geller Advisors LLC now owns 3,373 shares of the financial services provider’s stock worth $403,000 after buying an additional 96 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Iron Mountain by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock worth $2,644,000 after acquiring an additional 100 shares during the last quarter. Premier Path Wealth Partners LLC raised its position in Iron Mountain by 3.9% in the 4th quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 106 shares during the last quarter. Mather Group LLC. boosted its stake in Iron Mountain by 4.6% during the 4th quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 113 shares during the period. Finally, One Charles Private Wealth Services LLC grew its position in Iron Mountain by 1.0% during the 4th quarter. One Charles Private Wealth Services LLC now owns 11,760 shares of the financial services provider’s stock worth $1,236,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Price Performance

Shares of IRM stock opened at $77.31 on Friday. The business’s fifty day moving average price is $92.35 and its 200 day moving average price is $107.29. The firm has a market capitalization of $22.71 billion, a PE ratio of 126.74, a P/E/G ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a 1-year low of $73.53 and a 1-year high of $130.24.

Iron Mountain (NYSE:IRM) last posted 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). The company had revenue of $1.58 billion for the quarter, compared to analyst estimates 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 company earned $0.52 earnings per share. Equities research analysts expect that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were paid a dividend of $0.785 per share. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 4.06%. Iron Mountain’s payout ratio is 514.75%.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 172,552 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the completion of the transaction, the chief executive officer now directly owns 237,402 shares in the company, valued at approximately $21,681,924.66. This trade represents a 42.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. Insiders have sold a total of 318,973 shares of company stock worth $29,370,872 in the last quarter. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on IRM. Barclays reduced their target price on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. StockNews.com cut Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday, March 31st. Wells Fargo & Company cut their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 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 research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $125.67.

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.