Huntington National Bank Sells 421 Shares of Iron Mountain Incorporated (NYSE:IRM)

Huntington National Bank trimmed its holdings in shares of Iron Mountain Incorporated (NYSE:IRM) by 11.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,309 shares of the financial services provider’s stock after selling 421 shares during the quarter. Huntington National Bank’s holdings in Iron Mountain were worth $348,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in shares of Iron Mountain by 1.6% during the third quarter. Geode Capital Management LLC now owns 8,257,965 shares of the financial services provider’s stock worth $978,479,000 after acquiring an additional 128,622 shares during the period. Wealthfront Advisers LLC raised its stake in shares of Iron Mountain by 9,843.3% in the 4th quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider’s stock valued at $721,562,000 after purchasing an additional 6,795,792 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Iron Mountain by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider’s stock valued at $365,656,000 after purchasing an additional 92,475 shares during the period. Norges Bank bought a new stake in shares of Iron Mountain in the fourth quarter valued at about $348,249,000. Finally, TD Asset Management Inc. boosted its position in shares of Iron Mountain by 125.4% during the fourth quarter. TD Asset Management Inc. now owns 1,952,432 shares of the financial services provider’s stock worth $205,220,000 after buying an additional 1,086,308 shares during the period. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total value of $6,900,748.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mithu Bhargava sold 1,738 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.84, for a total value of $161,355.92. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. This trade represents a 11.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 318,973 shares of company stock valued at $29,370,872 over the last ninety days. 2.10% of the stock is currently owned by company insiders.

Iron Mountain Trading Down 7.0 %

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

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 net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period in the previous year, the company posted $0.52 earnings per share. On average, research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 17th were paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date was Monday, March 17th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is 514.75%.

Wall Street Analyst Weigh In

IRM has been the topic of several research reports. Barclays cut their target price on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a report on Monday, March 31st. JPMorgan Chase & Co. lowered their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company reduced their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Iron Mountain has an average rating of “Moderate Buy” and a consensus 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.